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Roundup: Singapore stocks end down 0.29 pct

Xinhua, July 6, 2015 Adjust font size:

Singapore shares closed 0.29 percent lower on Monday after Greeks refused creditors' terms for a bailout, potentially setting the stage for its exit from the Euro-zone.

Preliminary results of Greece's referendum on Sunday showed a victory for the "no" campaign, which rejected austerity policies set out by the Euro-zone and the International Monetary Fund. Creditors have said the outcome imperils future compromise and puts Greece closer to leaving the currency bloc.

DBS Group Research said "We expect a re-test of the 3,000 points level for the Straits Times Index. At this stage, we maintain our view for the 3,270 points level to hold up. We think equity markets especially outside of Europe can look passed the possibility of an exit from the Euro-zone. Safety nets have been put up over the past 3 to 4 years that work to halt contagion risks through the financial system and banks have reduced or cut their exposure to Europe."

Singapore's benchmark Straits Times Index fell 9.79 points to 3, 332.94 points. Trading volume was 1.17 billion shares worth 833 million Singapore dollars. Decliners outnumbered advancers 315 to 114, while 532 stocks did not move.

Among top actives, Noble Group shed 4.7 percent to 71.5 Singapore cents. It announced that it will redeem in whole all outstanding 6.625 percent senior notes due 2020 on August 5 this year. The redemption price will be 100 percent of the outstanding aggregate principal amount of the securities. As at July 3, these were worth 235 million U.S. dollars.

Q&M Dental Group rose 0.7 percent to 72 Singapore cents. It has entered into a non-binding memorandum of understanding (MOU) to acquire a 60 percent stake in a dental clinic located in Panjin City, Liaoning Province, China for 5.976 million Chinese yuan cash. Panjin Jinsai Dental Clinic currently owns and operates a dental clinic in Shuantaizi District, Panjin City. The proposed acquisition is in line with the Company's plan to continue the expansion of its dental business in China.

Among top gainers, Jardine Strategic rose 0.3 percent to 31.60 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 3.5 percent to 30.56 Singapore dollars. (1 U. S. dollar equals to 6.21 Chinese yuan and 1.35 Singapore dollars) Endit