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Roundup: Singapore stocks end down 0.54 pct

Xinhua, November 11, 2015 Adjust font size:

Singapore shares closed 0.54 percent lower on Wednesday, after China had released weak economic data for October.

Investors remained sidelined ahead of the release of Chinese figures on retail sales, and industrial production, particularly given recent downward surprises on inflation and trade.

Data out in the afternoon showed Chinese industrial output grew at 5.6 percent in October, a touch below market forecasts of a 5.8 percent rise. The fixed-asset investments of the second largest economy in the world also slightly weakened in October.

Singapore's benchmark Straits Times Index fell 16.13 points to 2,981.59 points. Trading volume was 1.22 billion shares worth 987 million Singapore dollars. Decliners outnumbered advancers 301 to 137, while 495 stocks did not move.

Vard Holdings plunged 12.5 percent to 31.5 Singapore cents. It has secured a new contract for the design and construction of one offshore vessel for an undisclosed international customer. The vessel is scheduled for delivery in 2017. As at September 30 this year, Vard had 31 vessels in the order book, 18 of which will be of its own design.

CNMC Goldmine had no trading on Wednesday. It reported third-quarter earnings tumbled 45.8 percent to 1.8 million U.S. dollars from 3.4 million U.S. dollars a year ago. The disappointing bottom line was blamed mainly on an unrealized foreign exchange loss of 2.7 million U.S. dollars, stemming from the weak Malaysian ringgit against the U.S. dollar. Its quarterly revenue also slipped 1 percent to 9.9 million U.S. dollars from 10.1 million U.S. dollars a year ago.

Among the top gainers, Jardine Cycle and Carriage rose 0.6 percent to 33.90 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.6 percent to 52.93 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Enditem