SINGAPORE shares closed flat on Thursday, recovering from heavy earlier losses but the overall mood remained bearish as investors worried about turbulence in global financial markets, dealers said.

The benchmark Straits Times Index closed 0.08 points lower at 2,419.21, recovering ground from a mid-day fall of 4.5 per cent.

Up to 1.63 billion shares exchanged hands.

Losers beat gainers 379 to 211.