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SINGAPORE - Singapore shares closed at their lowest level in almost two years on Friday, dropping 1.97 per cent from the previous day's finish on concerns for global economic health, dealers said.
The blue-chip Straits Times Index ended down 51.84 points at 2,574.21 on a volume of 1.10 billion shares worth S$1.57 billion.
Losers led gainers 390 to 136, with 837 counters unchanged. The index closed at its lowest level since October 5, 2006.
"There's blood everywhere," one local dealing head said. Dealers see the support level at 2,550.
Oil rig builders were hit by the downward trend in world oil prices. Sembcorp Industries fell 16 cents to S$3.74, and Keppel Corp dropped 49 cents to S$8.64.
Diversified beverage-maker Fraser and Neave was off 14 cents at S$4.09.
Property firms fell further. City Developments dropped 27 cents to S$9.06, Keppel Land was down 12 cents at S$3.48 and CapitaLand eased six cents to S$4.11.
In the banking sector, DBS was down 28 cents at S$17.30, UOB closed 40 cents lower at S$18.10, and OCBC was off 19 cents at S$7.69.
- AFP/ir
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