SINGAPORE'S benchmark Straits Times Index fell over 5 per cent in early trade on Friday after US stocks fell nearly 5 per cent on a dismal corporate and economic outlook.

Losses were led by DBS, South-east Asia's biggest bank by assets, after it reported a lower-than-expected 38 per cent drop in quarterly profit on higher bad debt charges.

By 0107 GMT (9.07am Singapore time), the index stood at 1,727.10 points, down 92.10 points. DBS Group was down 6.85 per cent and United Overseas Bank fell 7 per cent. -- REUTERS