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SINGAPORE - Singapore share prices ended mixed on Wednesday amid fresh concerns about the sovereign debt crisis in Europe being underestimated.
The blue-chip Straits Times Index (STI) fell 0.8% or 24.67 points to close at 3,011.42, after initially falling to as low as 3,002.65, as stocks took their cue from an overnight fall of 1.03 percent on Wall Street.
But in the broader market, gainers beat losers 255 to 196. Overall volume traded was 1.67 billion shares worth S$1.18 billion.
In New York on Tuesday, investors returned from the Labour Day holiday to reports that Europe's banks may not be as strong as first thought.
The Wall Street Journal reported that stress tests in July to measure the strength of Europe's banks showed they held more potentially risky government debt than believed.
The results of the tests showed that all but seven of 91 lenders were strong enough to withstand future financial crises.
But the paper, citing its own analysis, said: "An examination of the banks' disclosures indicates that some banks didn't provide as comprehensive a picture of their government-debt holdings as regulators claimed."
The report underscored concerns that the recovery of the European economy was more subdued than hoped following recent positive data.
On the Singapore Exchange, CapitaMalls Asia ended down 2.2% at S$2.20 as the malls developer gave up its sharp gains made in recent sessions after its recent joint acquisition with CapitaLand of Singapore's Bedok Town Centre site.
Among banks, OCBC fell 2% to close at S$8.77 while DBS lost 1% to S$14.12 and UOB shed 0.2% to S$18.90.
Stocks of commodity firms also fell. Noble Group was down 1.8% to S$1.68, Golden Agri-Resources fell 0.9% to S$0.58, Wilmar International lost 0.5% to S$6.35.
- CNA/ir
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