ST Index drops 1.5% in the biggest sell-off in five months

Singapore

THE Straits Times Index (STI) on Tuesday collapsed 51.36 points or 1.5 per cent to 3,340.75, a loss that took it 25 points or 0.7 per cent into the red for the year so far.

It was the worst sell-off since Jan 6 when the index plunged 46.33 points or 1.4 per cent to 3,281.95 because of a steep slide in oil prices and the looming threat of Greece exiting the eurozone; in contrast, reasons for Tuesday's pressure were not easily discernible other than a culmination of months of non-performance.