Singapore shares fall on fears over Fed hike, China industrial output slump

Singapore - Stocks here had their worst trading day on Monday since February as the Straits Times Index closed 33.08 points or 1 per cent lower at 3,312.47.

Some 1.33 billion shares worth $870.1 million changed hands.

There were 326 losers versus 95 winners, with 373 stocks unchanged.

It was the worst performance on the STI since Feb 3, when the STI declined 36.27 points or 1.2 per cent to 2,990.95.

The sell-off came ahead of a key meeting on Wednesday and Thursday by the United States Federal Reserve where hints could be given of a possible interest rate hike.

Worries over China's slowing growth and also Scotland's independence referendum on Thursday added to the fears.

Most other Asian bourses also beat a retreat, as Sydney dropped 1.04 per cent, Seoul declined 0.3 per cent and Hong Kong fell 0.97 per cent.

Shanghai rose 0.31 per cent on expectations that poor industrial output data released on Saturday will lead to more stimulus measures from the central government.

Japanese markets were closed for a public holiday.

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