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Singapore shares open lower on Tuesday; STI down 0.7%

SINGAPORE shares opened 0.7 per cent lower on Tuesday, with the Straits Times Index down 24.17 points to 3,406.59 at 9.02am as investors sold off shares in tech stocks following retaliatory trade measures unveiled by China on Monday.

About 62 million shares worth S$74 million in total changed hands as losers outnumbered gainers 115 to 28.

The most actively traded stock was Magnus Energy, which fell S$0.001 to S$0.001 with 143.6 million shares changing hands.

Other actives included Genting Singapore and Singtel.

On Wall Street, the Dow fell 458.92 points, or 1.9 per cent, to 23,644.19; the S&P 500 lost 58.99 points, or 2.23 per cent, to 2,581.88 and the Nasdaq Composite dropped 193.33 points, or 2.74 per cent, to 6,870.12.

In regional markets, Japan's Topix index fell 0.9 per cent as at 9.08am in Tokyo. Meanwhile, Australia's S&P/ASX 200 Index lost 0.3 per cent and South Korea's Kospi index declined 0.8 per cent.

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