Singapore shares close 0.7% lower

SINGAPORE shares closed lower with the key Straits Times Index retreating 24 points or 0.7 per cent to finish at 3,330.75 on Friday.

Profit taking activities and a sell-off in US tech stocks overnight led to the losses in the local bourse.

Some 2.8 billion shares worth S$1.3 billion were done with losers outpacing gainers. Some 275 counters were down while 171 counters were up.