STI closes at its lowest level in over a decade

SINGAPORE'S Straits Times Index (STI) closed at its lowest level in over a decade on Monday, after the US Federal Reserve's second off-cycle emergency rate cut in March and disappointing February economic data releases from China.

The STI counters were mostly in the red at the opening bell, with the index falling 3 per cent. The blue-chip index trended downward as the session went on to close 138.23 points or 5.3 per cent lower at 2,495.77.

All but one - Yangzijiang Shipbuilding - of the STI's 30 components ended the day in the red.