17 Jun '11, 4am

IM$avvy Headlines: STI slumps in biggest fall in 3 weeks #Singapore #investment #finance

THERE was nowhere to hide yesterday as the market saw its sharpest fall in over three weeks with bad news seemingly coming in from all directions. As if Wall Street's 1.5 per cent drop overnight and China's stubbornly high inflation were not enough to handle, investors also had to grapple with heightened concerns over Greece's debt problems. The Straits Times Index (STI) slumped 34.69 points, or 1.14 per cent, to close at 3,020.13 - its sharpest fall since May 23. The decline also extended the benchmark index's losing streak to seven sessions, though some of the losses in the period were very slight. 'The market looks weak. I think the concerns over Greece have caught up,' said remisier Desmond Leong. He noted that the market opened high and closed low on Wednesday, a sign that it was already starting to react to the Greek debt issue. Slow progress in euro zone discussions...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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