Renewed virus concerns spook STI
Index extends early losses to finish 38.83 points or 1.2% lower at 3,142.20; all but one of its 30 components close in the red
Add BT as a preferred sourceSINGAPORE equities resumed their slide on Monday as sentiment worsened due to a spike in cases of the novel coronavirus (Covid-19) in South Korea as well as signs the virus has established a foothold in Italy after a cluster emerged there.
Vishnu Varathan, Mizuho Bank's head of economics and strategy for the Asia and Oceania treasury, noted that fears of secondary infections growing rapidly outside China have "come home to roost".
This, he added, has resulted in risk assets taking a hit as market participants rush for safe-havens such as gold and US government bonds.
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