Singapore: Shares close down 0.5%

Weakness set in again in the Singapore market on Wednesday after a respite the day before proved brief.

The Straits Times Index finished 0.5 per cent lower, falling 13.29 points to 2,873 as a rate cut in China failed to prevent another slide in the Shanghai market.

The local blue-chip index was dragged down by a mix of large-caps including DBS, Singtel and Keppel Corp.

About 2.33 billion shares worth S$1.54 billion in total changed hands, which worked out to an average unit price of S$0.66 per share.

The most actively traded stock was micro-penny New Silkroutes, which halved in value to S$0.001 with 672.6 million shares changing hands. Other actives included Ezra Holdings and Silverlake Axis.

Losers outnumbered gainers 268 to 225, or about six down for every five up.