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Singapore shares open lower on Wall Street's tumble

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SINGAPORE stocks opened on a downbeat note on Friday following Wall Street's tumble overnight.

The benchmark Straits Times Index opened down 8.91 points or 0.3 per cent at 2,931.57.

Three minutes into morning trade, some 49.3 million shares worth S$72.2 million had changed hands, with losers outnumbering gainers 71 to 37.

Among the most active counters were Geo Energy, Ezra Holdings and Sembcorp Marine.

US equity markets have soared the last three weeks as they shook off worries about the British vote to leave the European Union.

But the rally ended on Thursday as US stocks tumbled, pulled down in part by disappointing earnings reports from Dow members Intel and American Express.