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US plunge sends STI to 4-month low

Local index sheds 1.08% for its fourth consecutive loss as market liquidity stays weak

Published Thu, Oct 2, 2014 · 09:50 PM

THE Straits Times Index (STI) on Thursday suffered a fourth consecutive loss and its fifth loss in six sessions. It came in response to a drubbing sustained on Wall Street on Wednesday and it cut 35.38 points or 1.08 per cent off the STI, sending it to a four-month low of 3,228.71.

Turnover amounted to 1.7 billion units worth just over S$1 billion. Of the dollar value, S$605 million or 60.5 per cent came from trading of the 30 STI components.

US stocks on Wednesday tumbled 1.3-1.6 per cent, reportedly after the release of weak construction and manufacturing data.