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Roundup: Singapore stocks end down 0.49 pct

Xinhua, November 23, 2015 Adjust font size:

Singapore shares closed 0.49 percent lower on Monday, as investors looked forward to more policy easing in Europe

The President of the European Central Bank (ECB), Mario Draghi, last week offered the strongest hint yet that the ECB will unveil fresh stimulus measures at its December 3 policy meeting.

DBS Group Research forecast Straits Times Index to range from 2,825 points to 3,030 points over the next one month. Any upside over the next few weeks is contained around 3,035 points and immediate resistance will be at 2,950 points and 2,975 points.

Singapore's benchmark Straits Times Index fell 14.42 points to 2,903.49 points. Trading volume was 1.01 billion shares worth 685 million Singapore dollars. Decliners outnumbered advancers 238 to 163, while 534 stocks did not move.

Among top actives, Neptune Orient Lines Limited jumped 4.5 percent to 1.17 Singapore dollars. It said its controlling shareholder, Lentor Investments, had entered into exclusive sale talks with France's CMA CGM, the world's third-largest container shipping firm. Lentor Investments is a unit of state investor Temasek Holdings, owns nearly 67 percent of Neptune Orient Lines which has struggled in a prolonged downturn in the global shipping market.

Great Eastern Holdings inched down 0.1 percent to 21.21 Singapore dollars. Chinese property developer Evergrande Real Estate Group will pay 3.9 billion Chinese yuan for a 50-percent stake in Great Eastern Life Assurance (China), a joint-venture life insurer of Great Eastern and the Chongqing municipal government investment holding companies. After the transaction, the insurer will be called Evergrande Life. The Chongqing Casin Group and Great Eastern will each retain their 25-percent holdings.

Among top gainers, Jardine Matheson rose 0.6 percent to 50.92 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.3 percent to 32.33 Singapore dollars. (1 U.S. dollar equals to 6.389 Chinese yuan and 1.42 Singapore dollars) Enditem