Roundup: Singapore stocks end down 0.9 pct

Singapore shares closed 0.9 percent lower on Monday, as a retreat in oil prices made investors cautious.

Oil slipped for a second session, extending last Friday's slide of over 1 percent after the U.S rig count rose for the first time since December, renewing worries of a supply glut.

DBS Group Research said "we do not advocate chasing stocks at current level as near-term upside may be limited. Short-term traders who have ridden the trend up in recent weeks should consider taking profit. We anticipate a range from 2,720 points to 2,920 points for the Straits Times Index in the weeks ahead."

Singapore's benchmark Straits Times Index fell 26.11 points to 2,880.69 points. Trading volume was 1.52 billion shares worth 1.04 billion Singapore dollars. Decliners outnumbered advancers 253 to 149, while 519 stocks did not move.

Yongnam Holdings rose 1.4 percent to 37 Singapore cents. The specialist civil engineering solutions provider has secured two contracts worth 49.5 million Singapore dollars. The two projects include a structural steelwork sub-contract for a proposed 19-storey mixed-use development which houses the future Outram Community Hospital in Singapore, and a specialist civil engineering sub-contract for the Hong Kong MTR Shatin to Central Line Cross Harbor Tunnel.

Yeo Hiap Seng Limited closed flat at 1.31 Singapore dollars. The food and beverage group has formed a joint venture with China Huiyuan Juice Group to produce, sell and distribute beverages in Malaysia as well as other Southeast Asian markets in the future. The joint venture also offers an opportunity for Yeo Hiap Seng to tap onto China Huiyuan's distribution network in China for its products. China Huiyuan is the largest juice producer in China.

Among top gainers, Singapore Airlines rose 0.6 percent to 11.58 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.6 percent to 56.68 U.S. dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Endit