Singapore shares close 1.1% down on Friday in broad market selloff

SINGAPORE stocks ended 1.1 per cent lower on Friday, with the Straits Times Index retreating 38.66 points to 3,377.24.

About 2.54 billion shares worth S$1.96 billion in total changed hands, which worked out to an average unit price of S$0.77 per share.

Continued volatility in the market, including a plunge in China stocks and the previous night's 4 per cent drop in US stocks, weighed the index down.

Strong buying sentiment for DBS, however, meant that while it fell to as low as S$25.92, it eventually ended trading unchanged at S$26.71.

Losers outnumbered gainers 448 to 85, or about five down for every one up.