Singapore shares close 1.1% lower

SINGAPORE - The local stock market hit a five-month low on Thursday, dragged down by a heavy Wall Street sell-off on concerns over the global economy.

The benchmark Straits Times Index fell for the fourth straight day, losing 35.38 points or 1.08 per cent to end at 3,228.71 - its lowest level since the middle of May this year.

About 1.65 billion shares worth $922.9 million changed hands in total.

"Global risk appetite continued to ebb overnight ... amid growing concerns of global growth stalling prematurely, especially for the euro zone", said OCBC Investment Research in a note on Thursday.

It also noted investors worries to rising fears about the spread of Ebola.

"Geopolitical tensions continue to simmer, with a more prolonged occupation set to persist in Hong Kong", it added.

The most actively traded counter was real estate firm Top Global, which closed 0.1 cent up at 0.9 cent on Thursday with 319.4 million shares changing hands.

Hong Kong markets were closed for a holiday and will reopen on Friday.

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