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Roundup: Singapore stocks end down 0.75 pct

Xinhua, June 16, 2015 Adjust font size:

Singapore shares closed 0.75 percent lower on Tuesday, taking its cue from losses on Wall Street overnight as investors braced for the possibility of Greece defaulting on its debt.

Greece only has two weeks before it has to repay 1.6 billion Euro to the International Monetary Fund. Market sentiment across the U.S. and Europe soured further on Monday as both Greece and its creditors hardened their stance.

Meanwhile, a two-day policy meeting of the U.S. Federal Reserve 's monetary committee started later in the session also counseled caution. The focus was on whether the U.S. central bank offers a hint of an interest rate rise later in the year.

Singapore's benchmark Straits Times Index fell 25.04 points to 3,298.09 points. Trading volume was 1.1 billion shares worth 885 million Singapore dollars. Decliners outnumbered advancers 263 to 151, while 552 stocks did not move.

KrisEnergy Limited shed 3.4 percent at 42.5 Singapore cents. The upstream energy company announced it was raising about 165.6 million Singapore dollars in a rights issue to support its capital expenditure. The rights shares will be issued at 38.5 Singapore cents each, a 13.5-percent discount to the closing price of 44.5 Singapore cents on June 12.

Midas Holdings rose 1.5 percent to 34.5 Singapore cents. It announced that its joint venture Nanjing SR Puzhen Rail Transport won three train contracts worth 2.1 billion Chinese yuan, which are to be delivered in 2016 and 2017. These include two metro supply contracts for the Hefei Rail Transit Line 2 and Shanghai Metro Line 8 Phase 3 projects, as well as a tram supply contract for Suzhou National New and Hi-Tech Industrial Development Zone Tramline 2.

Among the top gainers, Keppel Corporation rose 1 percent to 8. 50 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 3.7 percent to 55 U.S. dollars. (1 U.S. dollar equals to 0.889 euros, 6.209 Chinese yuan, and 1.35 Singapore dollars) Endi