THE selling which has marked 2016 thus far continued for a fourth consecutive session on Thursday after China's stock market crashed by 7 per cent, triggering circuit breakers that eventually led to trading being suspended only 30 minutes after the market's opening.Here, the Straits Times Index opened in the red and headed south throughout, finishing with a 74.36 points or 2.7 per cent loss at 2,729.91, bringing its four-day loss to 153 points or 5.3 per cent for 2016. It was the lowest close in about three and a half years. Meanwhile, the Dow futures plunged 250 points during Asian trading, indicating Wall Street would be in for a rough Thursday.
Turnover here amounted to a heavy 1.3 billion units worth S$1.6 billion whilst rounding off a miserable day for stocks was an advance-decline score of 71-397 excluding warrants.
Since China devalued its yuan in August last year and its stock market started buckling under the weight of the excessive leverage undertaken by too many naive retail investors, global equities have come under severe pressure.
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