Singapore stocks end quarter on a weak note

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent.

An electric display chart showing the afternoon trading trend of the blue chip Hang Seng Index is seen through a camera at a brokerage in Hong Kong, China. REUTERS

Singapore equities fell more than 1 percent on Friday, tracking a selloff in Asian and U.S. stocks as the quarter draws to a close.

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent after hitting a two-year high on Thursday.

Overnight, the tech-heavy Nasdaq led declines on Wall Street with a 1.4 percent loss. The Nasdaq is poised to post a 0.9 percent loss for the month, but is still up 14 percent this year.

The dollar extended losses as major central banks around the globe siganlled an end to easy money and need for rate increase.

The Straits Times Index fell 1.1 percent or 36 points to 3,222. It ended 1.34 percent higher on Thursday, taking the year-to-date gains to 13 percent.

Among the laggards, United Overseas Bank and DBS Group Holdings fell 1.7 percent and 0.5 percent, respectively.

Real estate companies like City Developments and UOL Group declined 2.2 percent and 3.4 percent, respectively.

The gainers included soyabean supplier United Food Holdings, which jumped nearly 9 percent. Construction company Tiong Seng Holdings rose 2 percent.

About 1.4 billion shares worth S$1.1 billion changed hands, with losers outnumbering gainers 295 to 133.