STI at 4-year low, virus-driven rout persists

SINGAPORE'S Straits Times Index (STI) continued to fall on Thursday, ending at a four-year low after the World Health Organization (WHO) labelled Covid-19 a pandemic and the United States temporarily halted travel from Europe - with the exception of the United Kingdom - for 30 days.

The local benchmark entered bear territory from the opening bell, where it dived by as much as 4.1 per cent in the early session. The STI ended 105.08 points or 3.8 per cent down at 2,678.64, its lowest closing level since March 2016.

All but one of the blue-chip index's 30 components closed in the red.