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Roundup: Singapore stocks end down 1.28 pct

Xinhua, October 29, 2015 Adjust font size:

Singapore shares closed 1.28 percent lower on Thursday after the U.S. Federal Reserve signaled that a rate increase could still be in the cards for its December meeting.

Federal Reserve suggested Wednesday that they had become less concerned in recent weeks about turbulence in financial markets and uncertain economic developments overseas.

The officials of the U.S. central bank pointed specifically to the next meeting in December as a time when they would assess if it was time to raise rates.

In September, the Federal Reserve left short-term rates unchanged amid worries about weak growth overseas and concerns about exceptionally low inflation at home.

Singapore's benchmark Straits Times Index dropped 39 points to 3,001.51 points. Trading volume was 1.22 billion shares worth 957 million Singapore dollars. Decliners outnumbered advancers 251 to 138, while 539 stocks did not move.

CDL Hospitality Trusts inched up 0.4 percent to 1.40 Singapore dollars. Its distributable income fell 9 percent to 23.3 million Singapore dollars from 25.6 million Singapore dollars previously, while net property income also slipped 2.2 percent to 33.1 million Singapore dollars from 33.8 million Singapore dollars.

However, revenue came higher at 41.1 million Singapore dollars, up 2.4 percent from 40.1 million Singapore dollars mainly due to the contribution from the acquisition of the Japan hotels and a newly refurbished mall.

Ascott Residence Trust fell 0.4 percent to 1.215 Singapore dollars. It has declared a distribution per unit of 2.07 Singapore cents for the third quarter which is 2 percent lower compared to the previous year despite 21 percent higher revenue of 113.2 million Singapore dollars. The higher revenue came on the back of its acquisitions in 2014 and 2015, as well as stronger operating performance from existing properties.

Among top gainers, Venture Corporation rose 0.5 percent to 8.42 Singapore dollars, while Jardine Matheson became one of the top losers by falling 2 percent to 53.04 U.S. dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit