Japan's 3% plunge weighs on STI
Index sheds 27 points, though turnover is little affected, with 1.2b units worth S$1.03b traded
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THERE were worries before Monday's session that the Hong Kong-Shanghai connect would divert money and attention away from the local market, but as it turned out, the worry should have been centred further north - on Japan.
There, the unexpected news that the country was officially in a recession sent the Nikkei 225 falling by just under 3 per cent, triggering spillover selling across the region.
In Singapore, the Straits Times Index (STI) opened in the red and did not recover through the day; it eventually ended at 3,288.67 for a nett loss of 27 points or 0.8 per cent, after having risen 29 points over last week.
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