Singapore shares slid to a one-week low, in line with other Asian bourses as weak manufacturing data from the United States, Europe and China fuelled concerns over the global economy.
By 0442 GMT, the benchmark Straits Times Index was down 0.4 percent at 2,818.63 points, but recovering from an intraday low of 2,798.84.
Rig builder Sembcorp Marine Ltd was the largest loser on the index, retreating 2.2 percent to S$4.54 as weak oil prices also hurt sentiment. Larger rival Keppel Corp Ltd lost 1.5 percent at S$10.06.
MSCI's broadest index of Asia Pacific shares outside Japan fell 1.4 percent. A downgrade to the credit ratings of 15 of the world's biggest banks by ratings agency Moody's added to the gloom.
1251 (0451 GMT)
(Reporting by Charmian Kok in Singapore; firstname.lastname@example.org)