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Roundup: Singapore stocks end down 1.01 pct

Xinhua, May 27, 2015 Adjust font size:

Singapore shares closed 1.01 percent lower on Wednesday, as strong economic data boosted U.S. near-term rate hike prospects, and growing Greece's financial crisis also weighed on investors' sentiment.

Overnight reports showed U.S. consumer confidence improved this month and house prices extended gains in March, raising the likelihood that the U.S. Federal Reserve to move ahead in its plan to raise interest rates later this year.

In Europe, voters in Spain punished the ruling Popular Party in local elections after years of austerity policies. Greece has also warned it may miss a June 5 debt repayment to the International Monetary Fund, triggering sell-off across the U.S. and European bourses.

The benchmark Straits Times Index fell 35.04 points to close at 3,424.94 points. Trading volume was 1.64 billion shares worth 1.3 billion Singapore dollars. Decliners outnumbered advancers 285 to 171, while 499 stocks closed unchanged.

ISOTeam Limited fell 2.3 percent to 64.5 Singapore cents. It announced the placement of 9 million new shares at 58 Singapore cents per share. The transaction will raise approximately 5.04 million Singapore dollars in net proceeds which ISOTeam intends to use to fund its capital expenditures, inorganic business expansion and general working capital.

Boustead Singapore Limited dropped 1.7 percent to 1.415 Singapore dollars. It announced its full year revenue was up 8 percent year-on-year to 556.4 million Singapore dollars while full year net profit was down 10 percent year-on-year to 63.3 million Singapore dollars. The decline in profit was due to non-recurring gains and provisions as well as income tax expense adjustments. Boustead Singapore's board has declared a final dividend of 2 Singapore cents per share, making it a total dividend of 19.5 Singapore cents per share for the whore year.

Among the top gainers, Jardine Matheson rose 1.6 percent to 62 U.S. dollars, while Jardine Cycle and Carriage dropped 1.4 percent to 39.74 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi