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Roundup: Singapore stocks end down 0.69 pct

Xinhua, December 14, 2015 Adjust font size:

Singapore shares closed 0.69 percent lower on Monday, dragged down by falling Chinese yuan and oil prices.

Chinese yuan hit fresh four-and-a-half year lows against the greenback after The People's Bank of China (PBOC) on Monday continued guiding its currency lower. Oil prices also continued to plunge after the International Energy Agency warned that global oversupply could worsen next year, with Brent crude, the international benchmark, falling below 38 U.S. dollars a barrel for the first time in seven years last Friday.

Singapore's benchmark Straits Times Index fell 19.59 points to 2,815.04 points. Trading volume was 979 million shares worth 916 million Singapore dollars. Decliners outnumbered advancers 310 to 110, while 506 stocks did not move. Vard Holdings sank 7.7 percent to 24 Singapore cents. It announced that the shipping arm of Brazilian oil giant Petroleo Brasileiro S.A. has terminated a contract for two liquefied petroleum gas carriers. Petrobras Transportes S.A., commonly known as Transpetro, had ordered eight liquefied-petroleum-gas vessels from Vard's 50.5 percent-owned unit Vard Promar S.A in a contract worth 536 million U.S. dollars in 2010. The two cancelled units were the last two on order and were in the early stages of construction.

HTL International Holdings jumped 12.9 percent to 57 Singapore cents. Responding to query by Singapore Exchange last Friday after shares surged, the home furnishings maker said its controlling shareholder, BEM Holdings Private Limited, continues to negotiate with Shanghai-listed Guangdong Yihua Timber Industry for a "potential" stake sale.

Among top gainers, Singapore Exchange Limited rose 0.8 percent to 7.53 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.6 percent to 46.40 U.S. dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Endit