Roundup: Singapore stocks end down 0.86 pct

Singapore shares closed 0.86 percent lower on Friday, as investors were cautious due to the lack of progress in Greek debt talks and the steep fall in Shanghai bourse.

U.S. stocks fell after Thursday's negotiation between Greece and its creditors failed to reach an agreement, dragging discussions into the weekend before the deadline for debt repayment next Tuesday. Eurozone finance ministers will reconvene this Saturday.

Meanwhile, volatile Shanghai bourse tumbled more than 7 percent on Friday.

Singapore's benchmark Straits Times Index fell 28.97 points to 3,320.9 points. Trading volume was 1.18 billion shares worth 926 million Singapore dollars. Decliners outnumbered advancers 256 to 181, while 526 stocks did not move.

Frasers Hospitality Trust closed flat at 85 Singapore cents. It intends to raise up to 123 million Singapore dollars by placing out 150 million new stapled securities at 81 Singapore cents to 82 Singapore cents apiece to fund its acquisition of Sofitel Sydney Wentworth. The offer size is about 12.5 percent of the existing units for the trust. The indicative offer prices are at a 4.2 percent to 5.4 percent discount to Thursday's volume-weighted average price of 85.58 Singapore cents.

Global Logistics Properties Limited shed 0.4 percent to 2.58 Singapore dollars. It announced that it has signed up three customers to pre-leases. These new agreements total 68,000 square meters. The three companies are new customers for Global Logistics Properties. They include Magazine Luiza, a retail chain; Certa, a food producer and Argos, a third party logistics provider. Going forward, Global Logistics Properties continues to see demand for its properties in Brazil.

Among top gainers, OSIM International rose 3.7 percent to 1.695 Singapore dollars, while Jardine Strategic became one of the top losers by falling 2.5 percent to 30.71 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi