On 24/Aug, Singapore shares ended lower after Moody’s downgrade of Japan’s credit ratings heighten fears on the global economic outlook.

STI ended lower at 2719.9 (1.6%) with LOW VOL of 1.6 billion shares traded compared with 1.5 billion shares Tuesday. In the broader market, losers outnumbered gainers 353 to 166. The recent rally at STI cannot be sustain as investors continue to sell on poor market sentiment ahead.

Headline in STI

After market close

Neptune Orient Lines Unit APL introduced a new service to expand its presence in Latin America. The new service will include direct port calls in La Union (El Salvador) and Puerto Caldera (Costa Rica), increasing APL’s global coverage and creating access to new markets for its customers.

Baltic Exchange chief executive Jeremy Penn was concerned by non-payment issues by Cosco and urged a speedy resolution of the issue. Cosco sought to reassure ...