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Singapore's STI down 0.9%, following drop in US, Tokyo stocks

SINGAPORE share prices opened lower on Wednesday with the Straits Times Index down 29.35 points, or 0.85 per cent, to 3,430.63 at 9.02am.

This follows Wall Street stocks which fell sharply on Tuesday on a strengthening US dollar. The dollar rose sharply against the euro and other currencies following solid US economic data and worries over increasingly cash-short Greece's talks with creditors.

Tokyo stocks opened 0.28 per cent lower on Wednesday as well, after eight consecutive days of rises.

Among the Singapore Exchange's top gainers in early trading were healthcare plays Raffles Medical and Parkway Life Reit. The former was up four cents to S$4.43, and the latter up three cents to S$2.36.

At 9.02am, 153.8 million shares worth S$158.6 million had changed hands, with losers outnumbering gainers 102 to 69.