Market Update: STI drops below 3,000-point level at the start of trading week

The Straits Times Index closed in the red along with its Asian peers on Monday's trading, shedding 14.47 points or 0.48% to end the day at 2,990.40.

The local bourse had a downswing despite the rebound of non-oil domestic exports in December, recording about 6.8% year-on-year.

Stock losers outnumbered advancers, 245 to 239 with about 2.77-billion securities worth S$1.32-billion changing hands.

Some of the biggest drops for the day's trade came from Singapore Airlines, which fell  2.51% or S$0.11, ComforDelGro down by 1.74% or S$0.03, and DBS which shed S$0.44 or 1.64%.

On Wall Street, US stocks were mostly in the red as COVID-19 death toll in the country nears 400,000.

The S&P 500 closed down by 0.72% or 27.29 points at 3,768.25. The NASDAQ also lowered by 0.87% or 114.14 points to 12,998.50 ,while the Dow Jones Industrial had a downturn by 177.26 points or 0.57% at 30,814.26.

Meanwhile, London's blue-chip index started the week in negative territory as crude oil price decline weighed on the energy sector. Market jitters also dragged the index as stricter restrictions on businesses as well as economic damage expectations raised the investors' concerns.

FTSE 100 down by 0.22 % or 15.06 points at 6,720.65 while FTSE 250 ended flat, up by 0.12% or 23.75 points at 20,639.34