Singapore shares slide 1.2% as virus worries hit China markets

MOST stock markets in Asia, including Singapore, tumbled on Monday amid the ongoing coronavirus outbreak, led by a sharp sell-off in China.

Coming back from an extended Lunar New Year break, Chinese shares fell more than 7 per cent despite the People's Bank of China's pledge overnight to inject liquidity into the markets to shore up sentiment. "Expectations remain that more could be done in the coming sessions should the support fail to arrest the volatility," said IG market strategist Pan Jingyi.

In Singapore, stocks fell steadily throughout the session, with the Straits Times Index down as much as 1.26 per cent in its final hour of trading. The benchmark eventually closed down 1.19 per cent or 37.42 points to 3,116.31, weighed down by financial and real estate stocks.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore shares open lower as investors await China market's reopen; STI down 0.8%Singapore shares open lower as investors await China market's reopen; STI down 0.8%
Source: BusinessTimes - 🏆 15. / 51 Read more »

Virus worries wipe $420 billion off China's stock marketSHANGHAI/HONG KONG (Reuters) - Investors erased $420 billion from China's benchmark stock index on Monday, sold the yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China since the Lunar New Year. The total number
Source: YahooSG - 🏆 3. / 71 Read more »

Market heads into Feb with virus outbreak worriesRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »