Wednesday, May 16, 2012

Singapore shares end down 1.6%

Singapore shares end down 1.6%

SINGAPORE - Singapore share prices ended 1.6% lower on Wednesday, tracking a regional sell-off on fears that Greece is inching closer to an exit from the euro zone after coalition talks to form a government in the indebted country failed.

Singapore's blue-chip Straits Times Index sank 45.55 points to end at 2,831.15. In the broader market, losers overwhelmed gainers 365 to 71. Overall volume traded was 1.47 billion shares.

Commodities-related stocks were among the losers. Olam International plunged 10.8% to end at S$1.785. Wilmar closed down 2.0% at S$3.97. Noble Group sank 4.0% to S$1.09. Golden Agri-Resources lost 2.9% to S$0.670.

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Source From Channel News Asia

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