Singapore stocks: STI resumes Wednesday afternoon down 0.9% on day

SINGAPORE shares continued their downward slide on Wednesday afternoon, with the Straits Times Index shedding 29.07 points or 0.9 per cent to 3,129.17 as at 1.02pm.

Decliners outnumbered advancers 261 to 119, after about 813.3 million securities worth S$684.8 million changed hands.

Among the most heavily traded by volume, Golden Agri-Resources slipped 0.5 Singapore cent or 2.4 per cent to 20.5 Singapore cents, with 27.9 million shares traded, while Genting Singapore slipped 1.5 Singapore cents or 1.8 per cent to 84.5 Singapore cents, with 24.7 million shares traded.

Banking stocks also faltered by the afternoon trade. DBS fell S$0.20 or 0.8 per cent to S$24.73, United Overseas Bank declined S$0.14 or 0.6 per cent to S$25.26, and OCBC Bank lost S$0.04 or 0.4 per cent to S$10.93.

Other active securities included SATS, which fell S$0.12 or 2.8 per cent to S$4.24, and Yangzijiang Shipbuilding which was down S$0.03 or 3 per cent to S$0.98.

Elsewhere in the Asia-Pacific region, Japan's Topix and South Korea's Kospi both retreated 1.1 per cent each in the afternoon trade. Hong Kong's Hang Seng lost 0.8 per cent, and China's Shanghai Composite slipped 0.4 per cent, while Australian stocks fell 0.4 per cent.