Roundup: Singapore stocks end down 1.45 pct

Singapore shares closed 1.45 percent lower on Friday, as U.S. gross domestic product (GDP) data reinforced expectations that the Federal Reserve is on track to raise interest rates.

U.S. gross domestic product data released on Thursday showed growth accelerated in the second quarter. Growth was also tweaked higher in the first quarter, backing the Federal Reserve's assessment at its meeting this week that the economy was expanding "moderately."

Singapore's benchmark Straits Times Index fell 47.02 points to 3,202.50 points. Trading volume was 1.87 billion shares worth 2.17 billion Singapore dollars. Decliners outnumbered advancers 323 to 135, while 478 stocks did not move.

Roxy-Pacific Holdings Limited closed flat at 50 Singapore cents. It announced its first-half revenue was up 60 percent year-on-year to 291.9 million Singapore dollars, while net profit was up 58 percent year-on-year to 59.4 million Singapore dollars. The results were attributed to a growth in property development and property investment revenues. Going forward, the company will focus on overseas projects.

Neptune Orient Lines Limited rose 1.1 percent to 93 Singapore cents. The container shipping line reported a net profit of 890 million U.S. dollars in the quarter ending June 30, which includes 887 million U.S. dollars of disposal gains from the divestment of APL Logistics, which was concluded on May 29. While the latest quarterly earning reversed a net loss of 54 million U.S. dollars a year earlier, it also said its container shipping business continued to face a challenging environment characterized by over- capacity and weak market demand.

Among top gainers, Raffles Medical Group rose 3.7 percent to 4. 79 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.3 percent to 54.26 U.S. dollars. (1 U.S. dollar equals to 1.38 Singapore dollars) Endi