Singapore shares close 3% lower on Wednesday

SINGAPORE stocks ended 3 per cent lower on Wednesday, with the Straits Times Index falling 78.7 points to 2,559.77.

The blue-chip index dropped amid an ongoing rout brought about by fears over the state of China's economy and oil prices.

About 1.09 billion shares worth S$1.22 billion changed hands, which worked out to an average unit price of S$1.12 per share.

The most actively traded counter was Ezra Holdings, which fell S$0.012 to S$0.058 with 98.7 million shares changing hands. Other actives included Noble Group and China Sports.

Losers outnumbered gainers 355 to 79, or about nine down for every two up.