The Straits Times Index's real-estate subindex slipped 1.6% to 796.45 points on Monday, compared with the overall STI's 0.3% decline.

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The news had little impact on Singapore shares, with the Straits Times Index falling just 1% to end at 1, 901 points.

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Trusts that have recently listed in Singapore have outperformed the benchmark Straits Times Index.

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It's to signify the launching of Singapore's first homegrown exchange-traded fund, the streettracks Straits Times Index Fund.

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In Singapore, as the name of the new ETF implies, it tracks the benchmark Straits Times Index.

FORBES: Can the exchange-traded fund replace the mutual fund?

South Asian markets edged downward across the board, with Singapore's Straits Times Index closing lower by 13.92 points, or 0.5%, at 2, 735.30.

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Indonesia's benchmark index has gained 12% this year, making it one of the region's best performers, while Singapore's Straits Times Index has risen 4.15%.

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Elsewhere in the region, South Korea's Kospi Composite was off 0.4% and Singapore's Straits Times Index rose 0.2%.

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