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Roundup: Singapore stocks end down 0.89 pct

Xinhua, November 27, 2015 Adjust font size:

Singapore shares closed 0.89 percent lower on Friday, as investors turned cautious ahead of the European Central Bank's policy meeting next week.

Most market players expect the European Central Bank on Dec. 3 to expand its asset purchase program and lower its deposit rate, the rate at which banks park excess funds with it.

Meanwhile, China markets fell sharply on news of Chinese authorities' investigations into two major Chinese brokerages over suspected violations. The fall in China stocks prices weighed on Singapore investors' sentiment throughout the day.

Singapore's benchmark Straits Times Index dropped 25.57 points to 2,859.12 points. Trading volume was 1.05 billion shares worth 1.03 billion Singapore dollars. Decliners outnumbered advancers 234 to 153, while 544 stocks did not move.

China Everbright Water dropped 2.9 percent to 68 Singapore cents. It has signed a supplementary concession agreement with the government of Daxing District, Beijing, for the upgrading of Beijing Daxing Tiantanghe Waste Water Treatment Project Phase I and the expansion of Project Phase II.

Project Phase I has a daily waste water treatment capacity of 40,000 cubic meters. The total investment for the upgrading of Project Phase I and expansion of Project Phase II is approximately 228 million Chinese yuan.

China Fishery Group continued to halt trading on Friday. The industrial fishing group missed installment on a club loan facility triggered a series of events. It failed to repay a 31 million U.S. dollar installment on its 650 million U.S. dollar club loan facility due earlier this month.

Among top gainers, Jardine Matheson rose 0.4 percent to 49.45 U.S. dollars, while Singapore Airlines became one of the top losers by falling 1.8 percent to 10.28 Singapore dollars. (1 U.S. dollar equals to 6.394 Chinese yuan and 1.41 Singapore dollars) Enditem