Roundup: Singapore stocks end down 0.56 pct

Singapore shares closed 0.56 percent lower on Friday, as uncertainty over the timeline of U.S. rate liftoff weighed on market sentiment.

The Federal Reserve left rates unchanged overnight, noting that U.S. inflation remained below the 2 percent rate.

DBS Group Research said "for the Straits Times Index, we see more sideways movement within the 2,750 points and 3,050 points range but tracking a slight downward bias. Banks stocks should dip while companies with borrowings such as properties and Singapore real estate investment trusts should perform slightly better."

Singapore's benchmark Straits Times Index fell 16.22 points to 2,879.59 points. Trading volume was 1.54 billion shares worth 1.9 billion Singapore dollars. Advancers outnumbered decliners 263 to 156, while 519 stocks did not move.

Ascendas Real Estate Investment Trust fell 0.4 percent to 2.23 Singapore dollars. It is looking to make its maiden acquisition of 26 logistics properties in Australia for 1.013 billion Australian dollars. The proposed acquisition is expected to generate a net property income yield of about 6.4 percent pre-transaction costs in the first year.

Silverlake Axis rose 0.9 percent to 54.5 Singapore cents. It is buying the entire stake in SunGard Ambit (Singapore) for 12 million U.S. dollars to expand its suite of software and services as well as deepen and broaden its customer relationships and geographical presence.

Among top gainers, Venture Corporation rose 2.8 percent to 8.45 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.1 percent to 47 U.S. dollars. (1 U.S. dollar equals to 1.38 Australian dollars and 1.39 Singapore dollars) Endi