Roundup: Singapore stocks end down 0.29 pct

Singapore shares closed 0.29 percent lower on Friday, weighed by drop in U.S. stocks and crude oil prices.

Wall Street drooped on Thursday as crude oil futures continued to hover at multi-year lows against a backdrop of oversupply as well as a stronger dollar following the U.S. Federal Reserve's widely anticipated tightening on Wednesday. U.S. crude futures slipped to below 35 U.S. dollars a barrel, while Brent crude struggled around 37 U.S. dollars a barrel.

Investors also monitored closely on a central economic work conference in Beijing, as such key economic meetings often set targets for China's policy reforms in the coming year.

DBS Group Research said "the shadow of higher interest rates, more earnings disappointments during the upcoming fourth-quarter results season and uncertain growth outlook next year could be a near-term drag for equities. Short-term resistance for the Straits Times Index is at slightly above 2,900 points, while immediate resistance is 2,860 points."

Singapore's benchmark Straits Times Index dropped 8.34 points to 2,834.63 points. Trading volume was 824 million shares worth 924 million Singapore dollars. Decliners outnumbered advancers 213 to 177, while 536 stocks did not move.

Triyards Holdings Limited shed 2.4 percent to 41.5 Singapore cents. The marine fabrication and engineering firm said that it has won contracts worth 45.5 million U.S. dollars to build vessels that have nothing to do with oil and gas, an industry that is suffering from falling commodity prices and order cancellations.

Among top gainers, Jardine Matheson rose 3 percent to 47.40 U.S. dollars, while DBS Group became one of the top losers by falling 1.6 percent to 16.33 Singapore dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Endit