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Singapore stocks slide amid global tech rout, Iran war strikes

Singapore stocks slide amid global tech rout, Iran war strikes

SINGAPORE – The Singapore market had a turbulent start on June 8 amid a wider global sell-off in technology stocks and an escalation of conflict in the Middle East.

The Straits Times Index (STI) fell 1.5 per cent, or over 75 points, when the market opened on the first trading day of the week, sliding alongside other Asian indexes.

The STI slipped 1.7 per cent to 4,963.67 on June 8.

Singapore’s tech stocks were hit by the wider sell-off on Wall Street.

Semiconductor testing equipment maker AEM fell some 3 per cent, while UMS shares lost around 1.2 per cent.

Precision engineering firm InnoTek, a player in the artificial intelligence and electric vehicle space, declined over 4 per cent.

Tech firms Frencken, Addvalue Tech and Venture Corp…

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