22 Feb '11, 11am

[CNA] S'pore stocks end sharply lower

SINGAPORE : Share prices in Singapore fell sharply on Tuesday in line with other Asian markets amid continued unrests in the Middle East. Dealers said violence in Libya escalated on Monday as protesters attacked police stations and offices of the state broadcaster and set government buildings on fire. The steep sell-off in Japan, Hong Kong and Wellington also pulled the Singapore market lower. Wellington's stock market fell after the city of Christchurch was hit by an earthquake that left 65 people dead, toppled buildings and ignited fires. In Singapore, the Straits Times Index dropped 51.48 points to close at 3,019.12. Volume totalled 2.06 billion shares valued at S$1.67 billion. Losers overwhelmed gainers by 573 to 63. Among property stocks, City Developments fell 28 cents to S$10.62, while CapitaLand lost 7 cents to S$3.29. Banking shares also ended weaker. DBS Group an...

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

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