Straits Times Index falls after weak euro zone growth data

Straits Times Index falls after weak euro zone growth data

SINGAPORE - Singapore shares fell for a second session, led by a decline in banking and telecommunications shares, after weaker-than-expected euro zone growth data soured investor sentiment.

The Straits Times Index was down 0.3 per cent at 3282.19. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.1 per cent higher.

Property developer Hongkong Land Holdings Ltd was one of the biggest losers on the index, falling as much as 2.25 per cent to S$7.81.

Banking shares also led the decline, with Oversea-Chinese Banking Corp dropping as much as 1.4 per cent after reporting fourth-quarter results. United Overseas Bank Holdings was down 0.15 per cent at S$19.34.

Singapore Telecommunications Ltd shares extended losses and slid as much as 1.4 per cent to S$3.45 after posting weaker-than-expected third-quarter earnings.

Other decliners include Genting Singapore Plc and Noble Group Ltd, which fell 1.6 per cent and 0.4 per cent, respectively.

However, shares of offshore vessel builder STX OSV Holdings Ltd outperformed the market and jumped 2.8 per cent to S$1.28 after it secured third consecutive contract win for the design and construction of one offshore subsea construction vessel. About 10.1 million shares changed hands, 1.5 times the average full-day volume over the past 30 days.

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