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Roundup: Singapore stocks end down 0.48 pct

Xinhua, September 22, 2015 Adjust font size:

The Singapore shares closed 0. 48 percent lower on Tuesday, as investors turned cautious ahead of the September Chinese purchasing managers' index (PMI) due Wednesday.

Market in average expect the flash China factory PMI to edge up to 47.5 in September from the final 47.3 in August, still pointing to a seventh straight monthly contraction in the sector as the index is still below 50.

Also out on Wednesday will be the eurozone's flash manufacturing activity reading, which most Investors expected to come in slightly stable to soft in September.

Singapore's benchmark Straits Times Index dropped 13.80 points to 2,868.47 points. Trading volume was 1.47 billion shares worth 1. 05 billion Singapore dollars. Decliners outnumbered advancers 212 to 192, while 532 stocks did not move.

KS Energy rose 3.7 percent to 28 Singapore cents. It has entered into an agreement to issue 7.5 million Singapore dollars in principal amount of 6-percent new convertible bonds at an issue price of 100 percent. The initial conversion price of 28 Singapore cents for each conversion share represents a premium of 2.8 percent to the last volume weighted average price. Yield-to- maturity is about 11 percent per annum.

Jasper Investment closed flat at 0.5 Singapore cents. Its two new majority investors have launched a bid to buy out the remaining shares in Jasper after taking a controlling stake of over 80 percent in the vessel management and operations outfit through a 1.25-million-Singapore dollar share purchase deal. Triton and Polaris are extending a mandatory offer to purchase the interests held by the minority shareholders of Jasper at the same price of 0.4 Singapore cents per share.

Among the top gainers, Jardine Matheson rose 1.3 percent to 47. 60 U.S. dollars, whereas Keppel Corporation became one of the top losers by falling 2.5 percent to 6.97 Singapore dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endi