STI breaks below 2,800 points, in official bear market territory
Add BT as a preferred source
SINGAPORE'S benchmark Straits Times Index (STI) fell below 2,800 points on Monday to officially end up in bear market territory.
At 10am, the STI was at 2,783.33 points, down almost 50 points from Friday's close and down 21 per cent from its closing high of 3,539 on April 15.
In financial markets, a fall of more than 20 per cent from a peak is generally taken to be an indicator of a bear market.
Monday's fall comes after data showing China industrial profits falling 8.8 per cent in August from a year ago.
Top stocks down include telco Singtel, which fell 14 cents or 3.8 per cent to trade at S$3.50.
Share with us your feedback on BT's products and services
TRENDING NOW
Japan Home closing outlets; staff say Valu$ taking over operations
Timah Partners lands S$60 million facility from lenders including UOB, RHB
ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
