Singapore shares closed flat on Thursday, weighed down by heavyweight Singapore Telecommunications on worries over its Indian exposure after deadly attacks there, dealers said. The blue chip Straits Times Index closed down 0.61 points, or 0.03 percent, at 1,710.52 on volume of 1.15 billion shares worth 952 million dollars (629 million US).
Gainers led losers 252 to 152 with 924 issues unchanged. Singapore Telecommunications is the biggest component of the main Index, and was down 4.19 percent or 11 cents at 2.52 Singapore dollars. Dealers said there was concern about the telco's exposure through India's Bharti, its largest regional mobile associate in terms of subscribers.
In Singapore the bourse pared its earlier gains - as SingTel stock fell further - but one trader said measures by governments around the world to shore up the financial system will encourage investors "to start putting their money to work".
Singapore Airlines dropped four cents to 10.40 while conglomerate Keppel Corp gained six cents to 4.80. In the banking sector, DBS fell 13 cents to 9.07, UOB rose 20 cents to 12.80 and OCBC climbed 10 cents to 5.00. Agribusiness giant Wilmar International was up nine cents at 2.79.