STI falls 0.7%, breaks support level

TRACKING other Asian markets as they struggled through yet another day burdened by Chinese and Turkish economic woes, the Straits Times Index (STI) broke down a key support level and reached its lowest point since July 9 in Thursday's trading session.

After losing 22.19 points or 0.7 per cent, the index ended at 3,211.93, down from 3,234.12 the day before.

The previous support of 3,238.15 points is now expected to act as a resistance level, while the STI may go on to test the next support level of 3,170.21, said Reuters analyst Gaurav Dogra.