Singapore shares close 2% down on Wednesday

SINGAPORE stocks ended 2 per cent lower on Wednesday, with the Straits Times Index losing 52.11 points to 2,619.96.

The blue-chip index took its sharpest tumble so far this week as oil prices slumped again.

About 1.30 billion shares worth S$1.57 billion in total changed hands, which worked out to an average unit price of S$1.21 per share.

The most actively traded counter was Noble Group, which dived S$0.035 to S$0.340 with 107 million shares changing hands. This came after Moody's cut its credit rating on Noble further to Ba3 from Ba1.

Other actives included Spackman Entertainment Group and Sincap Group.

Losers outnumbered gainers 255 to 127, or about two down for every one up.