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Singapore share prices closed 1.34 percent lower Thursday on continued worries that a crisis in the US subprime mortgage sector will hurt Asian economies and markets, dealers said.
The main Straits Times Index fell 47.32 points to 3,477.59.
Volume was 1.95 billion shares worth 1.97 billion Singapore dollars (1.37 billion US) with 220 risers, 605 losers and 856 stocks staying flat.
"With the subprime issue still hanging in the air, the market is likely to remain volatile," Westcomb Securities said in a note to clients.
Lorraine Tan, a regional equities strategist with Standard and Poor's, said the market's decline will provide opportunities for bargain-hunting.
"Generally speaking, we are quite positive on the Asian markets," said Tan.
"Markets will continue to consolidate over the next week or so, but it would be a buying opportunity."
Bank stocks were lower. DBS Group Holdings fell 30 cents to 19.80 Singapore dollars, United Overseas Bank eased 10 cents to 19.50 and Oversea-Chinese Banking Corp dropped 15 cents to 8.40.
Among blue chips, Singapore Airlines retreated 50 cents to 18.30, Singapore Telecommunications slipped six cents to 3.76 and Neptune Orient Lines was off 14 cents to 4.80. In the property sector, City Developments was steady at 14.20, CapitaLand fell 15 cents to 6.95 and Keppel Land dropped 25 cents to 7.95.
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