Singapore stocks extend losses as oil prices spike; STI down another 1.2%
Jardine Cycle & Carriage is STI's top gainer while Yangzijiang Shipbuilding finishes at the bottom.
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THE Straits Times Index (STI) fell 1.2 per cent for the second consecutive day, dropping 38.96 points to close at 3,148.86 points on Tuesday (Mar 8).
A spike in oil prices amid Russia-Ukraine tensions also continued to batter other key Asia markets. Japan's Nikkei, South Korea's Kospi, Hong Kong's Hang Seng and the FTSE Bursa Malaysia KLCI fell between 1.1 per cent and 1.7 per cent.
"The third round of peace talks between Ukraine and Russia saw little progress, suggesting that the conflict will be prolonged with no clear resolution in sight," said IG market strategist Yeap Jun Rong.
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