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Roundup: Singapore stocks end down 0.76 pct

Xinhua, November 12, 2015 Adjust font size:

Singapore shares closed 0.76 percent lower on Thursday, as investors sold shares after prices of crude oil and commodities fell overnight.

U.S. crude futures tumbled 3 percent overnight to near their lowest levels since August on worries about higher crude inventories. Prices of other commodities also weakened following the release of downbeat Chinese industrial output data.

Singapore's benchmark Straits Times Index fell 22.58 points to 2,959.01 points. Trading volume was 1.05 billion shares worth 945 million Singapore dollars. Decliners outnumbered advancers 290 to 140, while 504 stocks did not move.

Among top actives, Singapore Telecommunications Limited closed flat at 3.87 Singapore dollars. The Southeast Asia's biggest telecommunications operator reported a net profit of 1.03 billion Singapore dollars for the three months ended September, compared with 1.04 billion Singapore dollars a year ago.

It maintained its full-year earnings outlook, forecasting for full-year consolidated revenue to grow at a mid-single digit rate, and earnings before interest, taxes, depreciation and amortization to grow at low-single digit rate as the impact from adverse currency movements offset the growing usage of mobile data across its markets. However it cut its forecast for mobile communications revenue in its home market due to lower contributions from mobile roaming.

Golden Agri-Resources dropped 2.7 percent to 35.5 Singapore cents. The palm oil planter reported third-quarter earnings more than tripled to 15.8 million U.S. dollars from a year ago, mainly supported by improvement in downstream operations and recovery in plantation output. But its revenue fell 14.6 percent to 1.6 billion U.S. dollars from 1.8 billion U.S. dollars due to the weakening of crude palm oil market prices.

Among the top gainers, Hong Kong Land rose 1.1 percent to 7.37 U.S. dollars, whereas Jardine Matheson became one of the top losers by falling 2.7 percent to 51.51 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Enditem