Singapore's Straits Times Index drops 1.6% as banks decline ahead of US job data

Singapore's Straits Times Index (STI) fell 1.6% to 3,801.56 on January 10, with no gainers among its 30 constituents. Local banks were significantly affected, with DBS down 1.9%, OCBC down 2.3%, and UOB down 2%. Investors were cautious ahead of important U.S. job data that could influence interest rates. The trading volume was 898.6 million securities worth $1.2 billion, with 346 losers compared to 192 gainers. Regional markets also showed declines, with Hong Kong's Hang Seng down 0.9% and Japan's Nikkei 225 down 1.1%. Australian shares fell 0.4%, reflecting a broader trend of caution among investors.