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Roundup: Singapore stocks end down 1.05 pct

Xinhua, November 18, 2015 Adjust font size:

Singapore shares closed 1.05 percent lower on Wednesday, as another bomb scare in Europe and gunfire in the French capital hurt investors' sentiment.

Investors remained on edge following news that German authorities called off the soccer match which German Chancellor Angel Merkel was due to attend, sparking fears of another attack coming only days after the deadly assault in Paris. French police also said gunfire erupted in a north Paris suburb early on Wednesday as special police forces launched an operation to catch one of the suspects believed to be behind gun and bomb attacks last week.

Singapore's benchmark Straits Times Index fell 30.70 points to 2,886.08 points. Trading volume was 974 million shares worth 978 million Singapore dollars. Decliners outnumbered advancers 271 to 115, while 549 stocks did not move.

SembCorp Marine dropped 2.2 percent to 2.20 Singapore dollars. Marco Polo Marine Ltd said that it is terminating a 214.3-million-U.S. dollar jackup rig contract with PPL Shipyard, the subsidiary of SembCorp Marine. The rig was ordered back in February 2014 during the rig building boom and due for delivery in the end of this year.

Marco Polo claimed that PPL failed to comply with material contract obligations as cracks were found on all three legs of the rig. It is also seeking a refund of the 10 percent deposit it has paid. SembCorp Marine refuted Marco Polo's allegations, saying that this is a repudiatory breach.

Hyflux Limited closed flat at 63 Singapore cents. Its subsidiary Hyflux Consumer Products entered into a joint venture agreement with PT Gunawan Sejahtera for the proposed acquisition of 50 percent equity interest in PT Oasis Waters International for 50 million Singapore dollars. PT Oasis Waters International is in the business of manufacturing, selling and distributing bottled drinking waters in Indonesia.

Among the top gainers, Great Eastern Holdings rose 1.6 percent to 21.45 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.2 percent to 51.13 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Enditem