SINGAPORE (Jan 20): The benchmark Straits Times Index fell to its lowest in more than four years on Wednesday amid nagging concerns over crude oil prices and the faltering Chinese economy.

The Nikkei 225 Index slumped 3.71%, while the KOSPI and Hang Seng Indices sank 2.34% and 3.82% respectively. Meanwhile, both the Shanghai and Shenzhen Composite Indices slipped 1.03%.

The Straits Times Index (STI) ended the day 2.98% lower at 2,559.77, after trading between 2,557.84 and 2,616.36. Market breadth was negative. Excluding warrants, decliners outnumbered gainers 355 to 79.

A total of 1.09 billion shares worth about $1.22 billion changed hands, giving an average of $1.12 per share for the entire market.

Ezra Holdings, Noble Group, China Sports International, Jiutian Chemical Group, and Singapore Telecommunications were among the most actively traded counters.

Among STI components, Sembcorp Marine added 0.3% to $1.485, the sole gainer on the index. Meanwhile, Noble Group plunged 10% to 27 cents, while Sembcorp Industries tumbled 9.4% to $2.30.

Jiutian Chemical Group plummeted 15.8% to 1.6 cents. The company on Tuesday said that it is expected to report a net loss for FY2015, mainly attributable to the worsening market conditions in the second half which impacted both sales volumes and average selling prices of its products.

Ezra Holdings slumped 17.1% to 5.8 cents. The offshore contractor on Tuesday proposed to undertake a share consolidation of every eight existing ordinary shares into one consolidated ordinary share. This is in line with the introduction of a minimum trading price for mainboard-listed stocks of 20 cents per shares as a continuing listing requirement.

Koh Brothers Eco Engineering rose 2% to 5.1 cents. The sustainable engineering solutions provider announced that it has secured contracts worth an aggregate of about $35.4 million during FY2015 ended Dec.