Singapore - Singapore shares dropped by 3.4 per cent Thursday amid generally gloomy regional market news and overnight falls on Wall Street.

The Straits Times Index fell by 60.66 points or 3.4 per cent to 1,704.06.

The Singapore Exchange closed with 357 losers against 105 gainers.

Volume was 1,069.5 million shares.

Analysts said speculators forced a price correction on Thursday at the Singapore Exchange which had made recovery on Wednesday after a six straight days of losses.

The global economic uncertainties were keeping prices down though bargain hunters were trying to pick up over-sold blue chips, said the analysts, adding that the downward trend was largely in line with other regional bourses and the overnight US share performance. (dpa)