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Update: Singapore stocks finish weaker, STI down 1% on geopolitical worries
AT first glance, the Straits Times Index's 30.94 points or one per cent plunge to 3,138.3 and a data connectivity glitch that disrupted trading in the morning were the main features of Monday's trading.
For many, these would suffice, the index's loss coming in the wake of last Thursday's Wall Street selloff that was triggered by heightened geopolitical risk surrounding events in North Korea, Afghanistan and Syria, and the trading holdup upsetting many dealers who found themselves unable to trade properly for the first few hours of the session.
Moreover, the Dow futures traded in the red throughout Asian trading hours, compounding jitters here. With Hong Kong and many markets in Asia closed for Easter, brokers said that the local market bore the brunt of the geopolitical-related selling. Turnover however, was a low 1.3 billion units worth S$746 million because of the closure of Hong Kong and the morning trading disruption. Excluding warrants there were only 86 rises versus 420 falls.