Off the wire
• Home ownership makes people happy: study  • Xinhua Insight: Business is China's latest youth fashion trend  • Foreign Ministry previews Xi's Russia, Kazakhstan, Belarus visits  • Roundup:KSE sheds intraday gains amid better turnover  • Earthquake-stricken Nepal officially urges int'l community in reconstruction, rehabilitation  • Roundup: Nepal's quake death toll reaches 7,365, as reconstruction under plan  • Belgian court deems Uber illegal  • Beijing's "Fast and Furious" charged with dangerous driving  • China tightens vaccine controls  • Microsoft shuts down only store in Finland  
You are here: 　 Home

Roundup: Singapore stocks end down 0.13 pct

Xinhua, May 4, 2015 Adjust font size:

Singapore shares closed 0.13 percent lower on Monday, as weak China factory activity weighed on investors' sentiment.

HSBC's final China manufacturing PMI for April falls to 48.9 compared to a flash estimate of 49.2 and down from 49.6 in March. Standard Chartered Research forecast a quarter-percentage point cut in broad interest rates in the second quarter. While past monetary easing has helped, it takes time to work its way through the real economy.

Despite poor economic data, Shanghai shares quickly reversed morning losses and were up nearly 0.9 percent by close as investors bet on more policy easing. China trade data is due out this Friday.

DBS Group Research said in the near-term, Straits Times Index should range within support at 3,430 points and 3,450 points, and resistance at 3,520 points and 3,550 points. A pullback to support presents an opportunity as the underlying trend remains up.

Singapore's benchmark Straits Times Index inched down 4.69 points to 3,482.70 points. Trading volume was 1.5 billion shares worth 1.02 billion Singapore dollars. Decliners outnumbered advancers 287 to 178, while 472 stocks did not move.

SembCorp Industries Limited rose 1.5 percent to 4.45 Singapore dollars. It announced that it has acquired land through a public land auction for the Sino-Singapore Nanjing Eco Hi-tech Island in Nanjing, Jiangsu Province. The mixed-use site was expected to develop into residential apartments and industrial office space with a total gross floor area of 75,955 square meters. The project will be funded by equity of 565 million Chinese yuan and borrowings. SembCorp owns 21.5 percent of the Hi-tech Island project.

Ramba Energy soared 20 percent to 36 Singapore cents. It has entered into a private share placement agreement, which is expected to raise approximately 17.9 million Singapore dollars in net proceeds.

It has agreed to place a total of 68 million shares priced at 27 Singapore cents per share to an Indonesian tycoon and philanthropist. Upon completion of the share placement, the Indonesian tycoon will hold 14.9 percent interest of the enlarged issued and paid-up share capital of the Group. Ramba plans to utilize 60.9 percent of the proceeds raised for activities related to the Ramba's oil and gas work program.

Among top gainers, Jardine Strategic rose 1.5 percent to 34.93 U.S. dollars, while DBS Group became one of the top losers by falling 1.3 percent to 20.82 Singapore dollars. (1 U.S. dollar equals to 1.33 Singapore dollars) Endi