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Roundup: Singapore stocks end almost flat

Xinhua, June 25, 2015 Adjust font size:

Singapore shares closed 0.04 percent lower on Thursday, as investors waited for a meeting of European Union leaders later in the day and Greece continued its last-minute efforts to avert a default.

Athens is preparing for continued negotiations with creditors after a meeting of Euro-zone finance ministers failed to see a breakthrough on the terms of aid. With next week's deadline to repay 1.6 billion euros to the International Monetary Fund looming, the lack of breakthrough threatens to trigger Greece's removal from the Euro-zone.

Meanwhile, the final figure of U.S. gross domestic product for the first quarter showed a 0.2 percent contraction, smaller than the previously estimated 0.7 percent. The adjusted data reinforced expectations that the U.S. Federal Reserve is on track to raise interest rates this year, probably as early as September.

Singapore's benchmark Straits Times Index fell 1.46 points to 3, 349.87 points. Trading volume was 1.26 billion shares worth 940 million Singapore dollars. Decliners outnumbered advancers 251 to 150, while 558 stocks did not move.

Singapore Exchange Limited rose 1.3 percent to 7.94 Singapore dollars. The bourse operator was rebuked by the Monetary Authority of Singapore, the city-state's central bank, over the two disruptions which were caused by a software error and a power failure last year. It said it would invest 20 million Singapore dollars to improve its technology after suffering the trading disruptions, and will not raise trading fees for the time being.

Ascott Residence Trust closed flat at 1.28 Singapore dollars. It announced 298.3 million Singapore dollar acquisitions including three serviced residences in Australia and Japan, and buying up four rental housing properties in Japan in which it currently owns 18.9 percent. The serviced residences are purchased from The Ascott Limited. These acquisitions are expected to increase the Trust's distribution per unit from 8.20 Singapore cents to 8.44 Singapore cents.

Among top gainers, Jardine Strategic rose 0.4 percent to 31.50 U.S. dollars, while Jardine Matheson became one of the top losers by falling 1 percent to 56.89 U.S. dollars. (1 U.S. dollar equals to 0.896 euros and 1.34 Singapore dollars) Endi