Thursday, April 12, 2012

Singapore stocks close 1.2% lower

SINGAPORE : Stocks in Singapore closed 1.2 per cent lower on Wednesday following overnight losses on Wall Street amid fresh concerns over the eurozone and the global economy.

Europe's debt woes returned as Spanish benchmark 10-year bond yields spiked at 5.94 per cent - their highest levels since December - after the government unveiled further cuts on top of last month's stiff austerity budget.

The Straits Times Index fell 36.00 points to end at 2,946.44.

Volume was 3.55 billion shares.

Losers led gainers 249 to 159.

Neptune Orient Lines declined 3.2 per cent to S$1.365, CapitaLand fell 2.6 per cent to S$2.96, Golden Agri-Resources was down 1.9 per cent at S$0.78, while Noble Group shed 1.5 per cent to S$1.295.

Among other stocks, Genting Singapore lost 0.3 per cent to S$1.68, Tiger Airways ended 0.7 per cent lower at S$0.74, while Singapore Airlines was down 1.32 per cent at S$10.48.

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Source From Channel News Asia

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