Market Update: STI slips below 2,900 level on first day of February

The Straits Times Index fell on the first trading day of the month shedding about 6.20 points or 0.21% to end the day at 2,896.32.

The decline came after Myanmar's declaration of a new state of emergency for up to a year heightened regional stability concerns.

About 2.23-billion securities worth S$1.44-billion changed hands, with decliners outnumbering advancers, 239 to 234.

The worst performers were Jardine Strategic with a 2.66% or US$0.69 decline, CapitaLand, which slumped by 2.49% or S$0.08, and Keppel Corp which went lower by S$0.11 or 2.20%.

Meanwhile, Wall Street continued to advance as stocks there braced for a rocky trading week, driven by the GameSpot intrigue.

The S&P 500 rose about 1.61% or 59.62 points to 3,773.86. The NASDAQ went up by 2.55% or 332.70 points to 13,403.39, while the Dow Jones Industrial climbed by 229.29 points or 0.76% at 30,211.91.

London's blue-chip index also jumped on Monday boosted by the mining sector as silver prices increased on strong retail demand.

The FTSE 100 went higher by about 0.92% or 58.96 points at 6,466.42 while FTSE 250 climbed by 0.81% or 164.04 points at 20,392.62.