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SINGAPORE : Stocks in Singapore closed 0.51 per cent lower on Thursday amid caution ahead of a key parliamentary session in China.
The National People's Congress kicks off Friday, with the economy at the top of the agenda as leaders consider policies to keep the country's soaring growth in check, rein in massive lending and prevent the growth of asset bubbles. Investors fear any policies that could see the tightening of credit.
The Straits Times Index fell 14.09 points to end at 2,768.70.
Volume was 1.2 billion shares.
Losers led gainers 314 to 137.
Cosco Corp. declined 4.1 per cent to S$1.16 while Wilmar International fell 2.7 per cent to S$6.49.
Among property stocks, City Developments slid 0.6 per cent to S$10.26 and CapitaLand was down 0.3 per cent at S$3.89. - CNA/AFP/ms
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