Singapore shares fall amid fears of recession in US

• STI down 1.9%; local banks among the biggest decliners • Jardine Matheson the top gainer, climbing 3.4% • Japan, Australia, S. Korea and HK indexes also in the red

- Navene Elangovan

Shares in Singapore recovered slightly at market close on March 11, after falling by as much as 2 per cent in the afternoon amid fears of a recession in the US.

The benchmark Straits Times Index (STI) closed at 3,825.83, down 1.9 per cent or 73.24 points.

Regional markets were also in the red. Japan's Nikkei 225 was down 0.6 per cent, Australia's S&P/ASX 200 index declined 0.9 per cent and South Korea's Kospi dropped 1.3 per cent. Hong Kong's Hang Seng Index fell 0.01 per cent.