Monday, March 26, 2012

Singapore shares ease on concerns over slowing global economy

SINGAPORE : Share prices in Singapore closed weaker on Monday following concerns over a slowing global economy.


Investors turned cautious after the release of soft economic data from China and Europe last week.


Weaker-than-forecast US housing figures also sapped buying sentiment despite a firmer close on Wall Street last Friday.


Traders said news that Singapore's February industrial output grew at a slower than expected pace limited trading volume.


The ST index fell 15.58 points to 2,974.50 on a volume of 1,461 million shares.


There were 148 gainers against 206 losers by the end of the session.


Among actives, Genting Singapore fell 3.5 cents to S$1.705 on profit-taking.


The counter surged 6.7 percent on Friday on news of two junket operators being granted licenses.


Losses in property-related stocks also weighed on the ST index.


Property developer City Developments dropped 21 cents to S$10.93, while CapitaLand ended 2 cents lower at S$3.04.


View the original article here


Source From Channel News Asia

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