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Roundup: Singapore stocks end down 0.11 pct

Xinhua, October 30, 2015 Adjust font size:

Singapore shares closed 0.11 percent lower on Friday as the prospect of U.S. rate hike in December continued to weigh upon market sentiment.

U.S. markets ended weaker overnight after U.S. data showed U.S. gross domestic product in July to September increased at a 1.5 percent annual rate, just shy of the market forecast for 1.6 percent growth and slowing from a 3.9 percent rise in the second quarter. But solid consumer spending kept alive the possibility that the Federal Reserve could deliver an interest rate increase in December.

Investors looked to the prospect of higher U.S. interest rates negatively as higher rates would increase borrowing costs and burden emerging-market firms with dollar debts.

Singapore's benchmark Straits Times Index dropped 3.16 points to 2998.35 points. Trading volume was 925 million shares worth 1.13 billion Singapore dollars. Decliners outnumbered advancers 233 to 141, while 558 stocks did not move.

Global Logistic Properties fell 1.8 percent to 2.24 Singapore dollars. The warehousing services provider reported a 27 percent on-year rise in its fiscal second quarter net profit to 114 million U.S. dollars from 89.5 million U.S. dollars in the same period last year, driven by growth in China and the absence of foreign exchange losses incurred last year. Its quarterly revenue, however, is down 1.9 percent on-year to 189.3 million U.S. dollars.

UOB rose 1.4 percent to 20.33 Singapore dollars. Its net profit slipped 1 percent to 858 million Singapore dollars in the third quarter ended September 30, 2015, from 866 million Singapore dollars a year ago. But the bank's gross loans grew 3.7 percent to 203 billion Singapore dollars as at September 30. To commemorate the bank's Eightieth anniversary, UOB is also declaring a one-off dividend of 20 Singapore cents per share.

Among top gainers, Jardine Cycle and Carriage jumped 3.4 percent to 32.62 Singapore dollars, while Singapore Airlines became one of the top losers by falling 1.8 percent to 10.80 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit