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STI gives up gains on US recession fears

Index tumbles 42.58 points to close at 3,103.45; other Asia-Pacific markets also end lower

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Published Wed, Oct 2, 2019 · 09:50 PM
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TWO sessions into the month and market sentiment has already greatly whipsawed.

On Wednesday, the local benchmark more than erased the week's gains after investors were jolted by US recession fears as August factory activity hit levels not seen since June 2009.

Moreover, the impact of protests in Hong Kong, which are becoming increasingly violent and led to the shooting of a protestor on Tuesday, also weighed on sentiment.

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