14 Dec '11, 10am

Singapore stocks fall following the overnight decline on Wall Street

SINGAPORE : Share prices in Singapore closed weaker on Wednesday following the overnight decline on Wall Street. The US Federal Reserve said Tuesday it would hold interest rates steady for some time to come. But traders said the market was disappointed by a lack of fresh plans to boost the US economy. Regional markets were also lower on concerns over the fallout from Europe's debt crisis. The ST index dropped 13.35 points to 2,672.39 on a volume of 582.6 million shares. There were 193 losers against 130 advances by the end of the session. Golden Agri-Resources topped the actives on a volume of 56.6 million shares. The counter ended unchanged at 71 cents. SingTel fell 3 cents to $3.15 and Genting gave up half a cent to $1.49. Among gainers, container shipper Neptune Orient Lines added 1.3 percent to S$1.155, while banks were mostly higher with United Overseas Bank up 0.9 pe...

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

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