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SINGAPORE: Singapore shares continued to fall on Friday, taking the lead from Wall Street's overnight tumble on fears of a slowing global economy.
The blue-chip Straits Times Index (STI) hit a 23-month low, falling 2.7 per cent in opening trade to 2556.74 points. Some 49.3 million shares exchanged hands, with losers beating gainers 131 to 22.
Other Asian stocks followed, with Japanese shares plunging three per cent and Korea's benchmark index sliding 1.6 per cent.
Singapore shares skidded 2.97 per cent on Thursday to close 80.48 points lower at 2,626.05.
Wall Street stocks were awash in losses on Thursday as weak retail results and data suggesting mounting job losses heightened fears on the US economic outlook.
The Dow Jones Industrial Average skidded 344.65 points (2.99 per cent) to end at 11,188.23, its weakest close since late July as the blue-chip index moved into "bear market" territory - down 20 per cent from last year's highs.
The Nasdaq composite slid 74.69 points (3.20 per cent) to 2,259.04 and the broad-market Standard & Poor's 500 index shed 38.15 points (2.99 per cent) to 1,236.83.
- CNA/yb
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