Singapore stocks close lower with STI losing 16 points

SHARE prices in the local bourse fell on Friday with the key Straits Times Index down 15.82 points or 0.5 per cent at 3,255.29.

Wall Street's lower closing and profit-taking in banking stocks led to the drop.

Turnover came in at 2.2 billion shares worth S$1.4 billion. Losers trounced gainers with 307 counters down and 168 up.