Singapore shares close 1.1% lower with oil retreat

THE expected window-dressing at the end of the first quarter did not occur as Singapore stocks finished 1.11 per cent lower on Thursday, with the Straits Times Index losing 31.88 points to 2,840.90.

Brent crude oil had traded lower from US$40.50 a barrel on Wednesday night to below US$39 for most of the day.

More than 2.35 billion shares worth S$1.33 billion changed hands, which worked out to an average unit price of S$0.56 per share.

The most actively traded counter was Cedar Strategic, which traded unchanged at S$0.002 with 535.2 million shares changing hands, as it resumed trading after a year-long suspension.

Losers outnumbered gainers 224 to 161, or about seven down for every five up.