Sell-off continues as STI tests 3,000-mark

EXIT, pursued by a bear. Or a whole herd of bears, in the case of Thursday which saw even more investors rushing for the door as the local bourse retreated for a fourth consecutive session and the benchmark index toyed with the psychologically crucial 3,000-point level.

The risk aversion that has continued to envelope the market ignited a broad selloff across Singapore shares, with the blue chip Straits Times Index (STI) shedding 31.47 points or one per cent to close at 3,009.78. The drop was also broad - losers outnumbered gainers 418 to 83, or about five down for every one up.

The STI is now down about 3.4 per cent since last Friday's close, and about 6 per cent lower since the end of July.