Singapore stocks are still down as investors remain wary of committing amid the growing tension on the Korean peninsula.

“As usual, people are selling first and asking questions later. Markets always tend to over-extend themselves in both good and bad times,” says an analyst from a Singapore bank.

The STI is down 0.7% at 3,129.63. If it slips below the November low of 3,118, the next support will be 3,100. All the FTSE ST sub-indexes are down. Decliners still outnumber gainers by almost 4 to 1 in the broad market, although activity is quiet with under 700 million shares changing hands.

Key decliners among the blue chips include NOL (N03.SG) off 2.3% at $2.13, OCBC (O39.SG) off 1.6% at $9.72 and SIA Engineering (S59.SG) off 2.5% at $4.28.