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Roundup: Singapore stocks end down 0.16 pct

Xinhua, May 19, 2015 Adjust font size:

Singapore shares closed 0.16 percent lower on Tuesday, as investors preferred to wait for more economic data later this week.

Wall Street rose modestly overnight due to buying interest generated by U.S. Chicago Federal Reserve Bank President Charles Evan's comments that interest rates should be kept near zero till early 2016, as inflation is still below the US central bank target.

On the other hand, investors remained reluctant to make significant moves ahead of some key economic data and are also likely to be waiting for the minutes of the last-month Federal Reserve meeting, as well as the speech by Federal Reserve Chairman Janet Yellen.

DBS Group Research said "Support for Straits Times Index is at 3,425 points, with a firmer one at 3,370 points, while the near- term resistance at 3,500 points."

Singapore's benchmark Straits Times Index fell 5.53 points to 3, 454.04 points. Trading volume was 1.79 billion shares worth 973 million Singapore dollars. Advancers outnumbered decliners 253 to 203, while 502 stocks did not move.

Midas Holdings Limited rose 2.7 percent at 38 Singapore cents. It announced that it has secured 328.9 million Chinese yuan of contracts for the supply of high-speed train car body components such as aluminum alloy extrusion profiles and certain fabricated parts in China. These are made up of orders worth 185.4 million Chinese yuan from CNR Changchun and 143.5 million Chinese yuan from CNR Tangshan. These high-speed trains operate at speeds of up to 350 kilometers per hour and 380 kilometers per hour respectively. The delivery is expected later this year.

Boustead Projects fell 0.5 percent at 94.5 Singapore cents. It announced that it has been awarded a 34 million Singapore dollar contract to design and build an integrated commercial and logistics facility for World Furnishing Hub. The facility will have 7 floors and will integrate both commercial and logistics aspects. The completion is expected in third quarter of 2016.

Among the top gainers, CapitaLand Limited rose 2 percent to 3. 60 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.1 percent to 60.88 U.S. dollars. (1 U.S. dollar equals to 6.205 Chinese yuan and 1.34 Singapore dollars) Endi