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Roundup: Singapore stocks end down 0.68 pct

Xinhua, February 27, 2015 Adjust font size:

Singapore shares closed 0.68 percent lower on Friday.

Singapore's benchmark Straits Times Index fell 23.32 points to 3,402.86 points. Trading volume was 1.51 billion shares worth 1.41 billion Singapore dollars. Decliners outnumbered advancers 270 to 165, while 498 stocks did not move.

Voyage Research said, "We reckon that it is important to stay above 3,400 points level and would see weakness if it breaks down the support level of 3,400 points."

Among top actives, Noble Group tumbled eight percent to 97.5 Singapore cents. It reported net profit in 2014 fell 46 percent to 132 million U.S. dollars compared with a year earlier, largely due to impairment costs of 200 million U.S. dollars related to Yancoal Australia Limited, a coal miner in which it has a 13 percent stake.

Iceberg Research, a secretive firm that has refused to disclose its analysts' names or provide any information about itself, published a report on recently accusing Noble of valuing its stake in Yancoal far higher than is reflected by the company's trading price.

China Sunsine Chemical Holdings Limited sank 8.7 percent to 42 Singapore cents. It announced full-year revenue was up 22 percent year-on-year to 2.1 billion Chinese yuan, while net profit was up 187 percent year-on-year to 220.2 million Chinese yuan. The better result was attributed to an 11 percent year-on-year growth in sales volume to 108,973 tons. Average selling price for all its products also increased thus enabling its gross profit margin to increase from 19.8 percent to 31.9 percent year-on-year.

Among top gainers, UOB rose 0.3 percent to 23.07 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.1 percent to 64.50 U.S. dollars. (1 U.S. dollar equals to 6.27 Chinese yuan and 1.36 Singapore dollars) Endi