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Singapore shares retreat after four days of gains

Published on Mar 10, 2014 1:11 PM
 

SINGAPORE (Reuters) - Singapore shares fell on Monday after a four-day winning streak as the broader Asian market sagged on disappointing Chinese trade data and uncertainty over the crisis in Ukraine.

The benchmark Straits Times Index was down 0.4 per cent at 3,122.7 as of midday. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.31 per cent, as China's weak exports in February added fears of a slowdown in the world's second-largest economy.

Shares in palm oil firm Golden Agri-Resources fell from a nearly four-month high of $0.61 hit in the previous session, slumping 2.5 per cent and leading the losses in the Singapore index, just as crude palm oil prices eased from a near 18-month peak.

In other stocks, Frasers Centrepoint inched down 0.3 per cent to $1.59, hovering near last week's peak of $1.615, the highest since Jan 20. The property developer made its debut on the Singapore Exchange on Jan. 14 at $1.61.

 
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