SINGAPORE: Singapore shares continued to slide on
Tuesday, as disappointing US manufacturing data sank US and other Asian
markets.
The Straits Times Index fell for the fourth straight session, dropping 25.15 points, or 0.84 per cent, to close at 2,965.80.
The index remained below the key support level of 3,000 points and at 14-month low.
Tuesday's sell-off was attributed to worse-than-expected US manufacturing figures, which most analysts see as a blip caused by "adverse weather conditions".
Sentiment was also weighed down by ongoing fears of capital flight caused by Fed tapering, and a slowdown in the Chinese economy.
Total volume stood at 1.99 billion shares valued at S$1.27 billion.
Losers overwhelmed gainers by a three to one margin, with 328 counters declining while 108 stocks finished higher.
Property shares were mostly weaker, with City Developments shedding 3 cents to S$8.68, CapitaMalls Asia dropping 2.5 cents to S$1.69, and Keppel Land moving down 3 cents to S$3.10.
Banks also ended lower -- DBS fell 24 cents to S$16.30, OCBC lost 8 cents to S$9.09, while UOB declined 28 cents to S$19.50.
The Straits Times Index fell for the fourth straight session, dropping 25.15 points, or 0.84 per cent, to close at 2,965.80.
The index remained below the key support level of 3,000 points and at 14-month low.
Tuesday's sell-off was attributed to worse-than-expected US manufacturing figures, which most analysts see as a blip caused by "adverse weather conditions".
Sentiment was also weighed down by ongoing fears of capital flight caused by Fed tapering, and a slowdown in the Chinese economy.
Total volume stood at 1.99 billion shares valued at S$1.27 billion.
Losers overwhelmed gainers by a three to one margin, with 328 counters declining while 108 stocks finished higher.
Property shares were mostly weaker, with City Developments shedding 3 cents to S$8.68, CapitaMalls Asia dropping 2.5 cents to S$1.69, and Keppel Land moving down 3 cents to S$3.10.
Banks also ended lower -- DBS fell 24 cents to S$16.30, OCBC lost 8 cents to S$9.09, while UOB declined 28 cents to S$19.50.
- CNA/al
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