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Global growth fears, weak China data send Singapore shares down 1%
IT took until Friday for global growth concerns and the disappointing data releases of the past few days to have their effect felt as markets in Asia slumped. China's weak export data for February certainly compounded the effect.
In Singapore, the Straits Times Index (STI) dropped 33.61 points or 1.04 per cent to close at 3,195.87.
Trading on the Singapore bourse worked out to about 1.11 billion securities worth S$1.04 billion or an average of S$0.94 per security traded. Decliners outnumbered advancers 267 to 143.
With 48.9 million shares traded on Friday, CWX Global was the bourse's most traded. Its shares finished flat at 0.3 Singapore cent with the total value of the trades at roughly S$130,000.
Just three of the STI's 30 constituents ended the day in the black. Among the 30, Yangzijiang Shipbuilding was the most traded with 29.2 million shares changing hands. Its shares ended three Singapore cents or 2.1 per cent lower at S$1.39.
Among financials, DBS Group Holdings closed S$0.26 or 1 per cent lower at S$25.06, OCBC Bank dropped S$0.15 or 1.3 per cent to S$11.05, while United Overseas Bank ended S$0.26 or 1 per cent down to S$24.91.