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Roundup: Singapore stocks end down 0.34 pct

Xinhua, November 16, 2015 Adjust font size:

Singapore shares closed 0.34 percent lower on Monday, after terror attacks in Paris last week unnerved investors across the global financial markets.

Despite immediate market jitters, analysts did not think that the attacks will spark any prolonged selling. France launched extensive airstrikes against Islamic State's stronghold in Syria, after the government blamed the extremist group for attacks in Paris, which killed 129 people on Friday.

DBS Group Research said "we now see immediate support at 2,890 points that should hold today. Immediate resistance is at 2,950 points and 2,975 points. In the event that the Straits Times Index falls below 2,890 points subsequently, stronger support is seen at 2,790 points."

Singapore's benchmark Straits Times Index fell 9.95 points to 2,915.73 points. Trading volume was 1.21 billion shares worth 938 million Singapore dollars. Decliners outnumbered advancers 248 to 175, while 510 stocks did not move.

City Developments Limited dropped 0.3 percent to 7.61 Singapore dollars. It reported net earnings for third quarter dropped 16 percent to 106.4 million Singapore dollars due to lower contribution from the property development segment on lower project milestone completions. Close to 72 percent and 59 percent of pretax earnings came from recurring income segments. Operating margins were steady at around 19 percent.

Swiber Holdings rose 4.4 percent to 23.5 Singapore cents. The global provider of engineering, procurement, installation and construction services for the offshore industry reported net profit of 3.2 million U.S. dollars for the third quarter ended September, a turnaround from reported losses of 27.5 million U.S. dollars a year ago.

This was on the back of revenue doubling from 107.3 million U.S. dollars to 215.7 million U.S. dollars. The return to profitability was thanks to contributions from new projects and strict cost control measures.

Among top gainers, Jardine Matheson rose 0.7 percent to 50.50 U.S. dollars, while UOB became one of the top losers by falling 1.7 percent to 19.81 Singapore dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit