21 Feb '11, 10am

Singapore stocks close 0.53% lower

SINGAPORE : Stocks in Singapore closed 0.53 per cent lower on Monday as escalating violence in the Middle East depressed investor sentiment. Dealers said investors are growing more concerned about the crisis in the Arab world, where the son of Libyan leader Muammar al-Gaddafi warned of a "bloodbath" if the government's offer of reforms was not accepted by protesters, while Bahrain has also been rocked by unrest. Dealers added that China's recent tightening measures also raised concerns that China's economy could slow substantially, leading to weaker exports by many of its trading partners. The Straits Times Index fell 16.32 points to end at 3,070.60. Volume was 1.26 billion shares. Losers led gainers 367 to 119. Keppel Corp dipped 2.39 per cent to S$11.44 and Singapore Airlines rose 0.56 per cent to S$14.34. Among banks, DBS fell 0.8 per cent to S$14.48, OCBC declined 1 pe...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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