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Roundup: Singapore stocks end down 1.06 pct

Xinhua, January 6, 2016 Adjust font size:

Singapore shares closed 1.06 percent lower on Wednesday, as volatility in global financial markets kept investors on edge.

Singapore's benchmark Straits Times Index dropped 29.96 points to 2,804.27 points. Trading volume was 1.2 billion shares worth 1 billion Singapore dollars. Decliners outnumbered advancers 251 to 131, while 546 stocks did not move.

Among top actives, Spackman Entertainment rose 5.8 percent to 14.5 Singapore cents. It said the South Korean action comedy film called 'Chasing' will be distributed by the company's unit Opus Pictures. The new movie will be released this Thursday. Spackman's shares had surged last year after the success of one of its movies in South Korea.

Mandarin Oriental International fell 0.7 percent to 1.51 U.S. dollars. It announced that it is acquiring a Boston hotel it manages and the freehold land it is located on for 140 million U.S. dollars.

The hotel had been offered for sale by auction, and a number of bids were received. Mandarin Oriental's management contract provides it the right to acquire the property for a sum equivalent to the highest bid. The acquisition will be funded through a mix of existing cash reserves and debt.

Among the top gainers, Creative Technology Limited jumped 20.5 percent to 1.38 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.9 percent to 48.61 U.S. dollars. (1 U.S. dollar equals to 1.43 Singapore dollars) Endit