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Roundup: Singapore stocks end down 0.31 pct

Xinhua, October 2, 2015 Adjust font size:

Singapore shares closed 0.31 percent lower on Friday, as investors were cautious ahead of U.S. job report for September due later in the day.

Investors looked to a coming jobs report in the United States for clues about when the Federal Reserve will raise interest rates. A brighter jobs picture could offer Federal Reserve officials reason to raise short-term interest rates later this year.

U.S. stocks ended flat overnight following a reading on U.S. manufacturing activity which showed near-flat activity in September, while construction spending rose to a seven-year high in August. The market in average expects Friday's jobs report to show the U.S. economy added 205,000 jobs in September and the unemployment rate unchanged at 5.1 percent, a seven-year low.

Singapore's benchmark Straits Times Index fell 8.70 points to 2, 793.15 points. Trading volume was 1.38 billion shares worth 889 million Singapore dollars. Advancers outnumbered decliners 192 to 188, while 557 stocks did not move.

PEC Limited sank 8.4 percent to 38 Singapore cents. It announced that its existing client, Jurong Aromatics Corporation ( JAC), is in receivership as talks to restructure debt stall. PEC has been providing integrated engineering and maintenance services for JAC. PEC is currently assessing the impact of JAC going into receivership and will update in due course.

Sarine Technologies plunged 10.6 percent to 1.555 Singapore dollars. It expects revenues for third quarter to be approximately half of those in the same period last year and down by approximately a third in comparison to second quarter, due to the lower manufacturing activities. Thus it expects to record an operating loss for the quarter ended September 30 of around 1.5 million U.S. dollars.

Among top gainers, Great Eastern Holdings rose 1.5 percent to 20.46 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.2 percent to 42.93 U.S. dollars. (1 U.S. dollar equals to 1.43 Singapore dollars) Endi