Asian markets continue to fall on Monday amid deepening anxiety that global economies will take a longer time to emerge from recession. Singapore benchmark fell 3.7% to 1,456.95 at the close, its lowest since July 2003 on a volume of SGD 1.14 billion shares with SGD 1.05 billion.
The technical outlook of STI is negative. The index opened slightly lower and extended its losses through out the day. It tested the October 2008 low but could not sustain above it at closing. The index fell more than 5% in the past three days.