Singapore shares end 0.5% lower
SINGAPORE - Singapore share prices ended 0.5% lower on Friday, tracking weakness in Asian stocks. Asian equity markets mostly fell on Friday as positive US data and bargain buying were overshadowed by eurozone debt, after a warning that a Greek default could be as disastrous as the collapse of Lehman Brothers. Singapore's key Straits Times Index (STI) fell 14.85 points to end at 3,005.28, its eighth straight loss. Overall volume traded was 1.11 billion shares worth S$1.35 billion. Losers beat gainers 345 to 114. Among the losers, property stocks extended a poor recent run on worries about residential oversupply in Singapore and speculation of further tightening moves in China. CapitaLand sank 2.5% to S$2.75, while its shopping mall unit CapitaMalls Asia slumped 2.8% to S$1.41. City Developments also ended lower. It fell 2% to S$10.00.