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Singapore stocks close sharply lower

Shares in Singapore fell to their lowest levels in nearly five months on Monday, tracking losses in other Asian markets.

SINGAPORE: Shares in Singapore fell to their lowest levels in nearly five months on Monday, tracking losses in other Asian markets.

Dealers said sentiment was weighed down by worries that the US Federal Reserve might taper its stimulus further and tighter credit conditions in China.

Regional markets were also depressed following the worst losses on Wall Street in seven months, with investors gripped by renewed fears over emerging economies.

The Straits Times Index dropped as much as 1.3 per cent before recovering some of its losses to end at 3,042.43, down 33.56 points, or 1.09 per cent.

Volume totalled 2.48 billion shares valued at S$1.42 billion, with losers overwhelming gainers by 412 to 81.

Among blue chips, banks were weaker, with DBS losing 10 cents to S$16.57, UOB easing 9 cents to S$20.10, and OCBC slipping 6 cents to S$9.44.

Elsewhere, SingTel dropped 2 cents to S$3.50, Keppel Corp fell 16 cents to S$10.52, while Jardine C&C tumbled S$1.59 to S$35.92. 

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