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Singapore: Shares close down 4.3% on fears over China economy

The Singapore market tumbled 4.3 per cent on Monday, with the Straits Times Index dropping 127.62 points to 2,843.39.

The decline came after the blue-chip index gapped down on Monday morning, having opened at 2,915 points.

Losers overwhelmingly outnumbered gainers 522 to 50, or a dismal 10 down for every one up.

Local shares were hit by deepening fears over China's economy. The Shanghai Composite dived 8.5 per cent and the Hang Seng fell 5.2 per cent.

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About 1.85 billion shares worth S$1.89 billion in total changed hands, which worked out to an average unit price of S$1.02 per share.

The most actively traded stock was Stratech Group, which fell S$0.009 to S$0.059 with 128.8 million shares changing hands. Other actives included Golden Agri-Resources and Equation.