Off the wire
• Chinese FM discusses Myanmar in border province after bombing  • Roundup: Philippine bourse closes higher on bargain hunting  • China Voice: SOEs no longer above investigation  • Shanghai official under graft investigation  • Taiwan schedules leadership, legislative elections  • Indian stocks close higher  • Feature: Dreams of female Chinese jet-fighter pilots take flight  • Weather forecast for major Chinese cities, regions -- March 17  • Roundup: Nikkei gains 1 pct on local wage increases, eased concerns for early Fed rate hike  • Stanford researchers reveal how some bacteria go "underground"  
You are here: 　 Home

Roundup: Singapore stocks end down 0.18 pct

Xinhua, March 17, 2015 Adjust font size:

Singapore shares closed 0.18 percent lower on Tuesday, as investors remained cautious despite overnight gains at the Wall Street amid expectation that the U.S. Federal Reserve will adopt a cautious stance on monetary policy this week.

The Federal Open Market Committee is scheduled to begin its two- day policy meeting later on Tuesday, and most investors had expected the U.S. central bank to drop the word "patient" from its formal statement on the timing of its first interest rate increase since 2006. But the downbeat data on U.S. manufacturing, industrial output and housing on Monday offered the central bank a reason to toe a cautious line on policy.

Singapore's benchmark Straits Times Index fell 6.09 points to 3, 369.95 points. Trading volume was 1.37 billion shares worth 1.15 billion Singapore dollars. Decliners outnumbered advancers 288 to 177, while 466 stocks did not move.

Parkway Life Real Estate Investment Trust rose 0.4 percent to 2. 32 Singapore dollars. It announced it has bought four nursing homes and one group home in Japan for a combined price of 49.24 million U.S. dollars. The property purchase is expected to generate a net property yield of 6.6 percent. The acquisitions give Parkway Life its first foray into Aichi Prefecture, and deepen its footprint in Hokkaido Prefecture. Japan has one of the world's highest life expectancies, which drives demand for eldercare facilities.

Singapore Airlines shed 1.9 percent to 11.80 Singapore dollars. The South Korean low-cost carrier Jeju Air said Singapore Airlines is in talks to take a stake in it. Jeju Air is preparing an initial public offering in the fourth-quarter, aiming to be the first listed Korean low-cost carrier. The size and the price of the Singapore Airlines' stake in Jeju Air have not been decided yet.

Among the top gainers, Jardine Matheson rebounded 1.7 percent to 63.35 U.S. dollars, whereas Jardine Strategic became one of the top losers by falling 0.5 percent to 34.64 U.S. dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endi