Singapore's stock market remained largely muted on Monday, as the city state's foreign exchange reserve fell in November, while the US economy registering an improvement in its employment rate for November.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,786.05 and 3,799.23 throughout the day. It ended the session at 3,794.92, down 1.24 points or 0.03% compared to Friday's close.
In economic news, Singapore's foreign exchange reserves declined to SG$505.74 billion in November from SG$507.61 billion in October, according to preliminary data from the Monetary Authority of Singapore.
In company news, shares of Hai Leck Holdings (SGX:BLH) surged nearly 33% after its founder, Cheng Buck Poh, through Cheng Investment Management, made an offer to fully acquire the company's issued ordinary shares, via a scheme of arrangement.
Suntec Real Estate Investment Trust (SGX:T82U) was down over 2% at the close after RHB advised unitholders to reject a mandatory conditional cash offer made by Gordon Tang and Celine Tang to acquire the REIT's shares.
Meanwhile, shares of Lendlease Global Commercial REIT (SGX:JYEU) were down nearly 1% at the close after the REIT secured loans worth up to SG$760.0 million yuan to refinance its existing financial debts.