Straits Times Index slides further, with 0.8% drop

It was another gloomy day for the local bourse as the key Straits Times Index extended its losses, closing lower by 25.15 points or 0.84 per cent to 2,965.8.

Losses were more pronounced among its regional peers. Japan's Nikkei 225 plunged by 4.2 per cent while the Hang Seng in Hong Kong lost 2.9 per cent.

Adding to the list of concerns was doubts over the strength of the world's largest economy after the United States released data that showed weak manufacturing activity.

The disappointing data led to a wobbly Wall Street overnight on Monday with the S&P 500 suffering its biggest lost since June last year.

On the home front, losers led gainers 294 to 101 while 389 counters were unchanged. Some 1.96 billion shares worth $1.19 billion were done.

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