SINGAPORE shares plunged by 6.61 per cent on Wednesday as worries over the financial crisis and economy intensified and sparked a new wave of selling.
The benchmark Straits Times Index dropped 143.94 points to close at 2,033.61.
About 1.45 billion shares exchanged hands. Losers beat gainers 500 to 98.
Earlier, Eight of the benchmark stocks that make up the 30-counter Straits Times Index had fallen more than 10 per cent, led by oil rig builder Keppel Corp which plunged 13 per cent and bourse operator Singapore Exchange which dropped 12 per cent.
Top lender DBS Bank was down 5.8 per cent at 0615 GMT (1.15pm Singapore time), or shortly after the midday break.
Southeast Asian stock markets fell sharply in early trade on Wednesday, led by a 10 per cent drop in Indonesia, amid fears the worsening credit crisis will drag the world into a recession.
Thai stocks are down 6 per cent, burdened also by domestic politics, while the Philippine index is 4.8 per cent lower.
The sharp drop in Indonesian stocks prompted authorities to suspend trading.
Telecom firms led losses in Indonesia, with PT Indosat plunging by more than 23.3 per cent, and PT Telkomsel down 9.8 per cent. -- THOMSON REUTERS
