SINGAPORE (Thomson Financial) - Singapore shares were lower at midday on Tuesday after Wall Street fell overnight as worries of further troubles in the financial sector returned to haunt investors. 'The fallout from the U.S. market continues to exert itself. Right now the latest talk is the big banks are looking for a third round of re-financing ... there doesn't seem to be a stop to the need of re-sustenance for financial institutions,' said Gabriel Yap, senior dealing director at DMG&Partners. The Dow Jones dropped 0.5 percent to 11,231.96 overnight following a Lehman Brothers report of more financial trouble at mortgage purchasers Fannie Mae and Freddie Mac and after San Francisco Federal Reserve President Janet Yellen said that financial markets remained fragile and that it will take time for conditions to improve. At...
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