Singapore shares close 1.1% lower on Wednesday

THE uncertainty lurking ahead for the global economy after an unexpected victory by Republican candidate Donald Trump in the US presidential election sent traders scrambling on Wednesday and took a toll on local shares.

Amid heavy trading, Singapore stocks finished 1.1 per cent lower, with the benchmark Straits Times Index losing 30.36 points to 2,789.88. The blue-chip index was down by as much as 2 per cent just after noon but recovered later in the day.

Volume was much higher than usual. About 2.24 billion shares worth S$1.85 billion changed hands, which worked out to an average unit price of S$0.82 per share.

The most actively traded counter was commodity firm Noble Group, which rose S$0.003 to S$0.182 with 388.9 million shares changing hands. Other actives included Kris Energy and Super Group.

Losers outnumbered gainers 318 to 113, or about three down for every one up.