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Roundup: Singapore stocks end down 1.51 pct

Xinhua, June 2, 2015 Adjust font size:

Singapore shares closed 1.51 percent lower on Tuesday, as investors dumped stocks ahead of Greek debt repayment due this Friday.

The leaders of Germany, France, the International Monetary Fund (IMF), the European Central Bank and the European Commission agreed at a meeting late on Monday to stay in close contact in the coming days to work on Greek debt negotiations, as Athens and its lenders struggled to reach deal that would prevent the country from defaulting on its debt. Greece is due to make a 327.93 million U.S. dollar repayment to the IMF on Friday.

Investors were also waiting for Friday's U.S. nonfarm payrolls report for a further gauge of the strength of employment conditions there. Market in average expected the report to show 225,000 jobs created in May.

Singapore's benchmark Straits Times Index fell 51.36 points to 3,340.75 points. Trading volume was 1.52 billion shares worth 1.75 billion Singapore dollars. Decliners outnumbered advancers 340 to 135, while 485 stocks did not move.

Among top actives, Debao Property Development soared 42 percent at 7.1 Singapore cents. Its recent surge had prompted a query from the Singapore Exchange on unusual trading volumes in its shares. Debao said over the weekend it is undergoing restructuring and that it would provide information on the process in due course. It also said it was not aware of any other reason to explain the recent movement in its shares. It said it was in compliance with Singapore's listing requirements.

Singapore Telecommunications sank 3.6 percent to 3.98 Singapore dollars. It announced it had received approval to delist its Australian shares, due to low volumes. It added it realized Australian investors would still want exposure and so would allow them to convert their shares to Singapore stock on a one-to-one basis or sell their interest in Singapore Telecommunications shares on the Singapore Exchange.

Among the top gainers, Hong Kong Land rose 1.5 percent to 8.74 U.S. dollars, whereas Jardine Matheson became one of the top losers by falling 1.7 percent to 60.43 U.S. dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Endi