Singapore shares drop

Singapore shares prices closed 1.04 percent lower on Monday as investors continued to worry about the slowing US economy, dealers said. The main Straits Times Index fell 29.69 points to 2,836.59 on volume of 1.29 billion shares worth 1.65 billion Singapore dollars (1.19 billion US) and there were 170 rising issues, 529 losers and 962 issues were flat.
Among the losers were DBS which fell 10 cents to 16.58 dollars, Singapore Airlines eased eight cents to 14.70 dollars but Singapore Telecommunications bucked the trend to close eight cents up at 3.73 dollars. For the property stocks, Keppel Land slumped nine cents to 5.30 dollars, CapitaLand added one cent to 5.71 dollars and City Developments lost 36 cents to 10.44 dollars.