Singapore stocks close lower on weak China data

SINGAPORE stocks fell on Wednesday as another month of lower producer prices in China sparked a regional pullback, sending the Straits Times Index down by 14.84 points, or 0.52 per cent, to close at 2,861.19.

China Environment led the most active gainers, jumping 43.3 per cent, or 2.6 Singapore cents, to close at 8.6 Singapore cents after 62 million shares changed hands. The company had announced two days ago that negotiations were going "on track" with creditor CITIC bank over certain loans.

A total of 817.8 million shares worth S$675.1 million were traded on Wednesday.

Losers outnumbered gainers 231 to 171, or about four down for every three up.

Among the index stocks, Singtel slipped one per cent, or 4 Singapore cents, to close at S$3.81, while OCBC Bank led the banks lower with a decline of 0.8 per cent, or 7 Singapore cents, to close at S$8.68.