Source: business.asiaone.com - Tuesday, May 12, 2015 Selldowns in Europe and on Wall Street sent Singapore shares into the red yesterday as investors worried over developments in Greek bailout talks and slowing growth in China. The bearish mood fuelled profit-taking on key blue chips and sent the benchmark Straits Times Index down 28.47 points to 3,442.33, with 1.31 billion shares worth $1.09 billion changing hands. Singtel dropped 0.9 per cent or four cents to $4.32 with 16.5 million shares traded, while CapitaLand shed nearly 2 per cent or seven cents to $3.51 on trade of 16.6 million shares. Banking counters DBS slipped 1.3 per cent or 27 cents to $20.86, OCBC dipped 1.1 per cent or 12 cents to $10.39 and United Overseas Bank fell 1.3 per cent or 31 cents to $24.09. Jardine Matheson also weighed down the market, falling 1.1 per cent or 71 US cents (95 Singapore cents) to US$61.50, while Jardine Cycle & Carriage dipped 1.1 per cent or 46 cents to $40.73. "Europe opened weaker as it is unclear if there will be a successful outcome for Greek aid talks," remisier Alvin Yong said. Investors took a pessimistic view as finance ministers met to discuss a cash-for-reforms deal for Greece, even though the country said it made a payment of about 750 million euros (S$1.1 billion) to the International Monetary Fund. The Dow Jones Industrial Average slipped 0.47 per cent on Monday, sparking falls in Hong Kong and some markets in South-east Asia. Hong Kong's Hang Seng Index fell 1.1 per cent wAll Related | More on investors
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