STI closes at its lowest level in over a decade
Index dives 138.23 points or 5.3 per cent to 2,495.77 after US Fed's second rate cut and disappointing February economic data releases from China
SINGAPORE'S Straits Times Index (STI) closed at its lowest level in over a decade on Monday, after the US Federal Reserve's second off-cycle emergency rate cut in March and disappointing February economic data releases from China.
The STI counters were mostly in the red at the opening bell, with the index falling 3 per cent. The blue-chip index trended downward as the session went on to close 138.23 points or 5.3 per cent lower at 2,495.77.
All but one - Yangzijiang Shipbuilding - of the STI's 30 components ended the day in the red.
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