STI falls 0.9% to close at 2,691.28

The Straits Times Index dropped 0.9% to 2,691.28 at the close. Eight shares declined for each that rose in the 30-member gauge.

Losers included DBS Group Holdings, which slipped 0.8% to $11.76, SMRT Corp., which lost 0.8% to $1.77, and Genting Singapore, which dropped 2.2% to $1.53, after UBS AG cut its rating to “neutral” from “buy,” saying the company’s profit growth may remain subdued in 2012.