Singapore's Straits Times Index tumbled on Monday led by declines from the banks and fell over 1.40% at close, even as shares on Wall Street closed higher last week.

During the day, the benchmark index ranged between 3,123.10 and 3,154.72, ending 1.43% or 45.48 points lower at 3,134.29.

In economic news, the growth of business activity in Singapore's private sector continued in January, albeit at a slower pace than in December 2023, as the demand for Singaporean goods and services remained strong, S&P Global reported Monday.

Meanwhile, Singapore's retail sales edged down 0.4% year on year in December 2023, reversing the 2.4% growth seen in the preceding month, the Singapore Department of Statistics disclosed Monday.

In company news, CapitaLand India Trust (SGX:CY6U) agreed to acquire three industrial facilities in OneHub Chennai, India, on a forward purchase basis from Casa Grande Group, sending the trust's shares up 1% at market close.

Shares of Frasers Centrepoint Trust (SGX:J69U) slipped 1% on Monday's close, as it issued 91,744,000 new units at SG$2.18 apiece today, Feb. 5, under its private placement to raise SG$200 million.

Keppel Infrastructure Trust (SGX:A7RU) closed nearly 1% lower on Monday, as it agreed to acquire a 98.6% stake in Australian transportation services provider Ventura Motors for an enterprise value of AU$600 million.