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Roundup: Singapore stocks end down 1.44 pct

Xinhua, January 18, 2016 Adjust font size:

Singapore shares closed 1.44 percent lower on Monday, after U.S. stocks slumped last Friday amid concerns over weak U.S. economic data and falls in oil prices.

The unexpected drop in U.S. retail sales and the third consecutive monthly fall in industrial output in December added to the latest indication that U.S. economic growth slowed sharply in the fourth quarter.

Meanwhile, China will release official economic growth data for the fourth quarter and all of 2015 on Tuesday.

Singapore's benchmark Straits Times Index fell 37.76 points to 2,593 points. Trading volume was 1.45 billion shares worth 1.19 billion Singapore dollars. Decliners outnumbered advancers 351 to 95, while 481 stocks did not move.

Keppel Corporation inched up 0.2 percent to 4.85 Singapore dollars. Its property arm Keppel Land has acquired a 22.4 percent stake of a lifestyle mall in eastern part of Singapore for 51.4 million Singapore dollars. The acquisition of the stake in the mall from BHG Holdings, BreadTalk Group and Perennial Real Estate Holdings will be made via wholly-owned subsidiary DC Reit Holdings.

It is to be funded through internal working capital. The other 77.6 percent of the mall is owned by Alpha Asia Macro Trends Fund (AAMTF), which is managed by Keppel Land's property fund management vehicle Alpha Investment Partners.

Halcyon Agri fell 5.8 percent to 65 Singapore cents. It confirmed market speculation that it was in talks with Sinochem International Corporation, but said an agreement on a deal is "not imminent".

It added that the discussions with Sinochem involve combining Halcyon Agri's assets with Sinochem's interests in GMG Global and certain rubber-related assets, as well as the possibility of Sinochem taking a controlling stake in Halcyon Agri.

Among top gainers, Jardine Strategic rose 1.2 percent to 27 U.S. dollars, while Jardine Matheson became one of the top losers by falling 2.6 percent to 51.50 U.S. dollars. (1 U.S. dollar equals to 1.44 Singapore dollars) Enditem