STI sheds 1.2%, falls below 3,000

Share prices on the Singapore bourse fell with the benchmark Straits Times Index ending the day at a year's low of 2,990.95, after shedding 36.27 points or 1.2 per cent.

Anxiety over emerging economies and weak data out of China also led to losses across regional bourses. Japan's Nikkei 225 lost nearly 2 per cent while South Korea's Kospi fell over 1 per cent.

The local bourse, not unlike its regional peers, suffered big losses last week after the United States Federal Reserve said it would cut its stimulus by another US$10 billion a month this year.

Recent weak data out of China has raised further concerns over the health of the world's second largest economy.

Trading was thin on the home front with some 1.5 billion shares worth $873.8 million done. Losers trounced gainers 245 to 126 while 415 counters were unchanged.