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Massive selloff sends STI 2.7% lower

Market watchers, at a loss for explanation, trot out the usual suspects - trade tensions and rising interest rates

Anita Gabriel
Published Thu, Oct 11, 2018 · 09:50 PM
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SHARE prices in the Singapore bourse suffered a brutal selldown with the key Straits Times Index tumbling 84 points or 2.7 per cent to finish the day at 3,047.39 - a 20-month low - following an overnight rout in US stocks that unnerved investors over long-simmering downside risks.

This marked the bourse's sixth straight day of losses with the key index having lost 220 points or 6.7 per cent since last Thursday.

Elsewhere in the region, the losses were more pronounced with key benchmarks in Japan, Hong Kong and South Korea falling between 3.5 per cent and 4.4 per cent while China's Shanghai Composite was the hardest hit with a drop of 5.2 per cent.

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