Singapore shares slip

Singapore share prices ended 1.34 percent lower on Friday, closing below the psychologically important 3,000 points level for the first time since March. The blue chip Straits Times Index finished 40.59 points lower at 2,979.56 on volume of 1.58 billion shares worth 1.22 billion dollars (886 million US).
There were 376 falling issues, 182 gainers and 952 issues unchanged. Dealers said trading was very quiet and inflation fears gripped investors. Aircraft maintenance firm SIA Engineering was the biggest blue chip decliner, ending down 5.0 percent or 20 cents at 3.80 Singapore dollars after it said global economic uncertainties and a weak US dollar may affect its earnings.
Singapore Airlines was eight cents lower at 14.82. In the banking sector, DBS Group dropped 28 cents to 19.06, UOB also fell 28 cents, to 18.88, and OCBC was nine cents lower at 8.20. Agribusiness giant Wilmar International dropped 3.3 percent or 16 cents to 4.64.