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Singapore shares open 1.34% lower on Monday
SINGAPORE shares opened lower on Monday with the Straits Times Index down 1.34 per cent or 44.48 points to 3,276.42 as at 9.01am, on the back of mounting fears of the crisis in Greece as the government declared emergency closure of banks until July 6 because of collapse of talks with creditors.
It cited "the extremely urgent and unforeseen need to protect the Greek financial system and the Greek economy due to the lack of liquidity caused by the Eurogroup's decision on June 27 to refuse the extension of the loan agreement with Greece".
In the region, the Nikkei 225 index at the Tokyo Stock Exchange dipped 2.29 per cent, or 471.93 points, to 20,234.22 at the start of trading on Monday, while the S&P/ASX200 at the Australian Securities Exchange was down 1.6 per cent, or 88.9 points, to 5,457 points.
In Singapore, some 124.9 million shares worth S$104 million changed hands. Losers outnumbered gainers 149 to 32.