STI declines 0.4%, or 11.5 points, at 2,895.15 at midday

Singapore’s main index struggled near a key technical level, with weak U.S. economic data spurring growth worries across Asian stock markets.

Rig builder Keppel Corp fell 1.9% and was among the top losers in the benchmark, while Singapore Airlines lost 1.6%.

The Straits Times Index (STI) has faltered after rising 9.0% in January, broadly in line with the MSCI Asia ex-Japan. The local index fell about 17% last year.

 

By 1:45 p.m., the Straits Times Index was down 0.4%, or 11.5 points, at 2,895.15. By mid-day, around 2.1 billion shares worth $673.5 million were traded versus 1.4 billion shares worth $1.1 billion traded by the same time on Tuesday.