Singapore index plunges to lowest in nearly 5 months

SINGAPORE Mon Jan 27, 2014 12:47am EST

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SINGAPORE Jan 27 (Reuters) - Singapore shares plunged as much as 1.3 percent to their lowest in nearly five months on Monday, tracking regional loses on fears the U.S. Federal Reserve might taper its stimulus further and tighter credit conditions in China.

The benchmark Straits Times Index was down 1.3 percent at 3,036.9 as of 0533 GMT after declining to 3,025.2, its lowest since Sept. 5 and biggest daily decline since Jan. 3.

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.5 percent.

Jardine Matheson Holdings and Jardine Cycle & Carriage Ltd were the worst performers on the index, with shares falling 3.6 percent and 4.4 percent respectively.

Shares of Noble Group Ltd dropped as much as 4.7 percent to a low of S$0.91, their lowest in almost four months. Noble Group announced on Friday its subsidiary Noble Clean Fuels Ltd bought a 51 percent shareholding interest in Watt Power Ltd.

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