Off the wire
• Xi underscores military building via reforms  • Feature: Vegas electronics show hightlights IoT, driverless cars and digital health products  • Djibouti cuts diplomatic ties with Iran  • Major news items in leading German newspapers  • 2nd Ld-Writethru: China's stock markets halted for day as shares tumble 7 pct  • Burkina Faso, Belgium restore diplomatic ties  • Ghana's electoral Commission issues timetable for 2016 elections  • Roundup: S.Korea to resume propaganda broadcast in border areas with DPRK  • Beijing PM2.5 density climbs 76 pct y-o-y in winter  • Chinese ride-hailing firm Didi to sell cars  
You are here: 　 Home

Roundup: Singapore stocks end down 2.65 pct

Xinhua, January 7, 2016 Adjust font size:

Singapore shares closed 2.65 percent lower on Thursday, as a sharp fall in Chinese shares triggered the automatic circuit-breaker mechanism and led to a trading halt in all Chinese bourses.

China stocks saw its shortest trading session in history Thursday. Shares dived across the Shanghai and Shenzhen markets after opening lower.

The CSI 300 Index plunged 5 percent within 10 minutes after trading started, causing the market to pause trading for 15 minutes. The sell-off showed no sign of abating after trading resumed, and a 7 percent plunge in the CSI 300 Index triggered markets to close for the day. Market analysts blamed the plunge to the market fear that the Chinese yuan will depreciate further.

The People's Bank of China (PBOC) set the yuan midpoint rate at 6.5646 per U.S. dollar prior to the onshore market open, 0.50 percent weaker than the previous fix 6.5314. It was the biggest fall between daily fixings since August and the eighth day in row for the PBOC to set a lower guidance rate.

Singapore's benchmark Straits Times Index plunged 74.36 points to 2,729.91 points. Trading volume was 1.31 billion shares worth 1.57 billion Singapore dollars. Decliners heavily outnumbered advancers 397 to 71, while 460 stocks did not move.

Vallianz Holdings sank 4.5 percent to 4.2 Singapore cents. Its wholly-owned subsidiary Vallianz Engineering has acquired two new built vessels for 21.8 million U.S. dollars.

Vallianz will pay for the vessels via the issuance of 70.5 million shares in Vallianz at 44.3 Singapore cents apiece, or 2.2 million U.S. dollars and a cash consideration of 19.6 million U.S. dollars. Vallianz said the acquisition is in the ordinary course of business and is part of its strategy to support its ongoing business.

Among the top gainers, Jardine Matheson rose 1 percent to 49.08 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 4.01 percent to 33.03 Singapore dollars. (1 U.S. dollar equals to 1.44 Singapore dollars) Enditem