Off the wire
• Chinese president, African leaders discuss development strategy  • Roundup: Philippine bourse dives following the drop of U.S. equities  • 2nd LD: Molotov attack on nightclub in Cairo kills 16  • 1st Ld Writethru: Rocket attack kills 8 Afghan civilians, wounds 2  • China to select 2015 grassroots heroes  • Chinese FM to attend ministerial conference of the Istanbul Process on Afghanistan  • 1st LD Writethru: China, Africa have always been community of common destiny  • Foreign exchange rates in Singapore  • Roundup: Mysteries shroud Taliban leader's fate as Afghan gov't confirms Mansoor's death, Taliban rejects  • Singapore stocks close 0.17 pct lower  
You are here: 　 Home

Roundup: Singapore stocks end down 0.17 pct

Xinhua, December 4, 2015 Adjust font size:

Singapore shares closed 0.17 percent lower on Friday, as the European Central Bank (ECB)'s stimulus package fell short of markets' expectations.

The ECB cut its deposit rate deeper into negative territory and extended its asset buying by six months. Its rate cut of 0.10 percentage point to -0.30 percent was smaller than a 0.15 to 0.20 percentage point cut many investors expected.

The central bank did not increase the amount of government bonds it buys while the six-month extension of the program was perceived as bare minimum, given that investors looked for an extension of one year or even making it an open-ended plan.

DBS Group Research said, "We see a decline of a smaller magnitude for the Straits Times Index compared to major U.S. and European equity indices as the Singapore dollar strengthened against the greenback. We continue to peg near-term support at 2,825 points or slightly above."

Singapore's benchmark Straits Times Index dropped 4.84 points to 2,879.05 points. Trading volume was 1.19 billion shares worth 771 million Singapore dollars. Decliners outnumbered advancers 192 to 158, while 583 stocks did not move.

Among top actives, Spackman Entertainment Group dropped 3.8 percent to 15.3 Singapore cents. The South Korean entertainment production group said its movie The Priests has sold over 5 million tickets at the South Korean box office. Distribution rights to the movie have also been sold in both Singapore and China.

Neptune Orient Lines rose 1.7 percent to 1.225 Singapore dollars. CMA CGM, which is in exclusive talks to buy a nearly 67-percent stake in Neptune Orient Lines from state investor Temasek Holdings, has reportedly tapped lenders including HSBC, BNP Paribas and JPMorgan to help finance the transaction through a syndication process.

Among top gainers, Jardine Strategic rose 0.4 percent to 27.57 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.9 percent to 35.20 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit