Singapore shares tumble on fresh eurozone concerns

Singapore shares tumble on fresh eurozone concerns
Posted: 18 March 2013 1750 hrs
     
SINGAPORE : In Singapore, share prices closed weaker on Monday following fresh concerns over the eurozone.

Traders said the market followed regional exchanges lower as a controversial bank bailout in Cyprus brought concerns about Europe's debt crisis back to the fore.

Wall Street also provided a weak lead, with the Dow seeing its first loss last Friday after a 10-day rally as data pointed to ongoing softness in the US economy.

The ST index lost 29.58 points to 3,256.47 on a volume of 2.8 billion shares.

There were 119 gainers against 270 losers by the close of dealings.

Among actives, Golden Agri-Resources edged down one cent to 58 cents while Rowsley fell half a cent to 39.5 cents.

Agricultural commodity trader Olam was a notable gainer during the session.

The counter rose 6.5 cents at S$1.69, retracing its 3.0 percent drop on Friday after a large block of shares changed hands just after the market close.

SingTel fell one cent to S$2.57.

The company has announced that it is conducting a strategic review of its Optus satellite business.

- CNA/ch

- wong chee tat :)