STI sinks deeper into the red on trade woes
The index drops 37.57 points or 1.2 per cent to close at 3,192.21 on broad losses; decliners trump advancers 259 to 132
US-CHINA trade headlines continue to cast a pall over Asia's equity markets, which were also done no favours by Wall Street's dour showing on Wednesday. Singapore's Straits Times Index (STI) may have fared better than its regional brethren on Wednesday, but the opposite held true this time round, with the benchmark dropping 37.57 points or 1.2 per cent to close at 3,192.21 on broad losses.
Elsewhere in the Asia-Pacific, markets in Australia, China, Hong Kong, Japan, Malaysia, South Korea and Taiwan all closed lower.
AxiTrader chief Asia market strategist Stephen Innes acknowledged regional equities were lower across the board but felt "the latest sell-off hasn't likely run deep enough". This, he said, has yet to "entice aggressive bargain-hunting although the markdowns have seemingly abated".
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