Singapore shares fell 2.89 percent on Thursday after Wall Street's overnight tumble, dealers said. The blue chip Straits Times Index closed 63.18 points lower at 2,122.11 on volume of 2.30 billion shares worth 1.65 billion Singapore dollars (1.13 billion US). Losers led gainers 463 to 128, with 628 issues unchanged. The market fall is likely to be temporary, dealers said.
"The market is already running a bit out of steam, although in every pullback so far, you see people jumping back in again, so there's no substantial decline," said a trader at a local bank. Among banks, DBS fell 40 cents to 11.00, Oversea-Chinese Banking Corp shed 22 cents to 6.63 and United Overseas Bank sank 54 cents to 14.04.
Among property shares, CapitaLand eased 13 cents to 3.07, City Developments retreated 27 cents to 7.50 and Keppel Land closed 12 cents lower at 2.02. Singapore Airlines, which announced after the market closed that its fourth quarter net profit plunged 92 percent on-year, was off 52 cents at 11.60. Singapore Telecommunications gained two cents to 2.74, oil rig maker Keppel Corp fell 38 cents to 6.44 and beverage maker Fraser and Neave shed 15 cents to 3.25.
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