Roundup: Singapore stocks end down 0.33 pct

Singapore shares closed 0.33 percent lower on Tuesday, weighed by weak local Purchasing Managers' Index (PMI) data for April.

Singapore's April PMI fell to 49.4 versus 49.6 in March, the lowest reading since early 2013, with the electronics sector hit and new orders declining. A reading below 50 indicates activity is contracting, while one above that points to an expansion.

DBS Group Research said "we maintain our view that in the short- term, any further decline towards 3,460 points or 3,430 points presents bargain hunting opportunities. Near-term resistance level is around 3,490 points."

Singapore's benchmark Straits Times Index fell 11.51 points to 3,471.19 points. Trading volume was 1.51 billion shares worth 886 million Singapore dollars. Decliners outnumbered advancers 279 to 175, while 484 stocks did not move.

Tiger Airways plunged 7.2 percent at 32 Singapore cents. It reported a net loss of 18.8 million Singapore dollars or 0.75 Singapore cent per share for its fourth quarter, an improvement from the 95.5 million Singapore dollar loss or loss per share of 8. 59 Singapore cents a year ago. For the full year at the end of March 2015, net loss was 264.2 million Singapore dollars, worse than the previous year's 223 million Singapore dollars. This is the third consecutive financial year that the budget carrier has recorded pre-tax losses.

Riverstone Holdings Limited soared 6.6 percent to 1.285 Singapore dollars. It reported first-quarter revenue was up 44.8 percent year-on-year to 127.2 million Malaysian Ringgit, while net profit was up 68.6 percent to 27 million Malaysian Ringgit.

This was attributed to new production capacity coming onstream at end of 2014. Production capacity was increased by 1 billion pieces of gloves to 4.2 billion. Utilization levels were also maximized due to extensive experience in designing production lines and pre-training of the production team. Going forward, the next increase in production capacity is set for the end of financial year 2015. This will be an additional 1 billion pieces of gloves.

Among the top gainers, Jardine Cycle and Carriage rose 1.2 percent to 40.99 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.7 percent to 61.56 U.S. dollars. (1 U.S. dollar equals to 3.608 Malaysian Ringgit and 1.34 Singapore dollars) Endi