<div id="readability-page-1"><div><p>[SINGAPORE] Singapore stocks ended lower on Monday (Jun 8) amid fears of Big Tech and the release of US labour data, which also led to a significant pullback in global markets earlier.</p><p>The Straits Times Index (STI) lost 1.7 per cent or 86.29 points to finish at 4,963.67.</p><p>It ended in a sea of red with only two counters,  CapitaLand Integrated Commercial Trust  and  Mapletree Logistics Trust  closing unchanged at S$2.27 and S$1.18, respectively.</p><p>The worst performer on the blue-chip index was  Sats , which fell 3.3 per cent or S$0.13 to close at S$3.86.</p><p>The local banks all ended lower.  DBS  lost 1.6 per cent or S$1.02 to S$62.76,  OCBC  fell 2.3 per cent or S$0.54 to S$23.40, and  UOB  was down 2 per cent or S$0.76 at S$37.79.</p><p>Within the iEdge Singapore Next 50 Index,  Lendlease Global Commercial Reit  was the top gainer, rising 1.8 per cent or S$0.01 to finish at S$0.56, while  Yangzijiang Financial  was the biggest loser, falling 4.2 per cent or S$0.01 to end the session at S$0.23.</p><div><div><div><h3>Asean Intelligence</h3><p>Get insights into businesses across South-east Asia</p><p>Get the free report</p></div></div></div><p>Across the broader market, losers beat gainers 489 to 149, after 1.5 billion securities worth S$2.2 billion changed hands.</p><p>Key regional indices were all negative. Hong Kong’s Hang Seng Index lost 1.2 per cent, Japan’s Nikkei 225 index fell 3.9 per cent, South Korea’s Kospi was down 8.3 per cent and the FTSE Bursa Malaysia KLCI declined 0.8 per cent.</p><p>“Markets are adopting a more cautious tone, but this is not a full-blown panic,” said Charu Chanana, chief investment strategist at Saxo on Monday.</p><div><div><div><p>SEE ALSO</p><div><div><div><div><p><img height="1893" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c3995b88f50dc3cbaafa7a0449d4955ad6139db60afcb1d77d080629ae2ec145/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="3000" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c3995b88f50dc3cbaafa7a0449d4955ad6139db60afcb1d77d080629ae2ec145/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>The US and China’s AI race will define the century</span></h3><p></p></div></div><div><div><div><p><img height="2016" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/6c3c219b3b14648eaf661fb90877db929e793c5e5383e270677ddc5e1109d9a7/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2953" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/6c3c219b3b14648eaf661fb90877db929e793c5e5383e270677ddc5e1109d9a7/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>STI drops as much as 1.7% as Asia markets hit by tech sell-off</span></h3><p></p></div></div></div></div></div></div><p>She added that what investors are seeing is a “recalibration”, as they digest several pressures simultaneously after a strong run.</p><p>This included crowded positioning in the AI trade, an increasingly top-heavy market, questions around how the next phase of AI investment will be financed following recent developments and a repricing of US Federal Reserve expectations after firmer US data.</p><p><strong>This article has been written with the assistance of AI and reviewed by a reporter</strong></p><div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. <span>Sign up here to get Decoding Asia newsletter.</span> Delivered to your inbox. Free.</p></div></div></div>

<p>Singapore stocks retreated on June 8, with the Straits Times Index (STI) closing down 1.7% at 4,963.67 points. The decline was driven by fears surrounding Big Tech and upcoming US labor data, mirroring global market pullbacks. Local banks and most blue-chip stocks fell, while only two counters remained unchanged. Regional indices also posted losses. Saxo strategist Charu Chanana described the move as a cautious 'recalibration' rather than panic, citing crowded AI positioning and shifting Fed expectations.</p>

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Singapore stocks retreat following AI headwind fears; STI closes lower