The local stock market lacks direction and consolidation has occurred. The Singapore Straits Times Index fell slightly by 15.41 points or 0.39% on Monday (March 10), and closed at 3899.07 points.

Asia-Pacific stock markets performed in a mixed performance, with Hong Kong and Shanghai closing down 1.85% and 0.19% respectively; Tokyo, Seoul and Sydney closing up 0.38%, 0.27% and 0.16% respectively.

Hu Yuxuan, a research investment analyst at Phillip Securities, said in an interview with Lianhe Zaobao that the Overseas Index consolidated and fell 0.39% between 3890 points and 3930 points. The stocks with the biggest declines on Monday include ST Engineering, Sembcorp Industries and SIA, which have recently risen, which are believed to be the result of investment authors selling arbitrage at high prices.

He also reminded investors to pay attention to the special shareholders' meeting held by Singapore Post on Thursday (13th) as shareholders will vote for whether to sell their Australian operations.

The stock market traded 1.38 billion shares throughout the day, with a total transaction volume of 1.26 billion yuan. There were 195 rising stocks and 320 falling stocks.

Further reading

Local stock market opened slightly down 0.08% on Monday

Local stock market opened slightly down 0.08% on Monday

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The largest declines in the Sea Index stocks include HongKong Land, Singtel and Singapore Exchange (SGX), which fell 1.79%, 1.75% and 1.36%, respectively, to close at US$4.38 (approximately SGD 5.83), 3.36 yuan and 13.09 yuan.

Rising stocks include Frasers Logistics & Commercial Trust, Seatrium and Genting Singapore, up 1.79%, 1.43% and 1.41% respectively, closing at 0.855 yuan, 2.13 yuan and 0.72 yuan.