Index hits two-week low, Genting falls

March 26, 2012

SINGAPORE, March 26 — Singapore shares closed at their lowest level in two weeks, with casino operator Genting Singapore PLC ranking as the biggest decliner in the benchmark index.

The Straits Times Index fell 0.5 per cent, or 15.6 points, to close at 2,974.5, its lowest close since March 12. The index has ended at its intra-day low twice in the last three sessions.

Genting shed 2 per cent to S$1.705 (RM4.158) after surging 7 per cent on Friday following Singapore authorities' move to license two casino junket operators.

More than 127 million shares were traded on Monday, making Genting the top traded stock by value, but volume fell from Friday's unusual surge to 356 million.

Asian shares mostly fell today, with materials and technology stocks losing ground. — Reuters

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