SGX Singapore Closing Market Update : Epic Research Singapore

A SLUMP in oil prices and overnight weakness on Wall Street made for a weak Thursday for the local stock market, with the Straits Times Index (STI) dropping 34.59 points or 1.2 per cent to 2,847.39.

There were losses for equities throughout the region, with the Hang Seng Index losing 1.3 per cent and the Shanghai Composite Index dropping 1.6 per cent.

In a holiday-shortened week, the STI fell 59 points or 2 per cent; for the year to date, it is down 1.2 per cent.

The government's Budget 2016 did not figure on Thursday at all, though this came as no surprise as Budgets traditionally have had no impact on the stock market.

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