STI dips, dashing hopes of a clawback

ANYONE who hoped the Singapore market could claw its way back up on Wednesday after having finished at an 18-month low the day before would have had those dreams dashed.

The benchmark Straits Times Index (STI) slipped a further 0.3 per cent or 8.4 points to end the day at 3,041.2 as the spectre of a slowdown in China's economy continued to cast a shadow over Asian markets. This came after it closed below the 3,050 mark on Tuesday for the first time since February 2014.

The index had opened higher at 3,054.72 but proceeded to follow Chinese markets downwards as sentiment waned. Shanghai was down by more than …