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Singapore stocks end down amid China's manufacturing data

Xinhua, May 3, 2016 Adjust font size:

Singapore shares closed 0.96 percent lower on Tuesday, as investors were cautious following the release of China's manufacturing data.

China's manufacturing sector showed further signs of slow down, as a gauge of the sector's purchasing managers' index in April by Caixin drops to 49.4, which was below market estimation.

Singapore's benchmark Straits Times Index fell 27.32 points to 2,811.2 points. Trading volume was 901 million shares worth 1.08 billion Singapore dollars. Decliners outnumbered advancers 258 to 151, while 504 stocks did not move.

Among top actives, QT Vascular shed 0.9 percent to 10.6 Singapore cents. The medical devices announced that it has received preliminary proposals from unnamed third parties for a possible purchase of some of its assets. It is evaluating these proposals, and may further engage these third parties to seek clarifications on their proposals. It added it will pursue any opportunity which is of interest and benefit to the company and its stakeholders.

DBS Group Holdings rose 0.5 percent to 15.35 Singapore dollars. Singapore's largest lender announced earnings of 1.2 billion Singapore dollars for the first quarter of 2016, down 5 percent from a year ago. But excluding the one-time items of about 136 million Singapore dollars related to the gain from disposal of a property investment a year ago, the earnings were a record and 6 percent higher.

Total income also reached a new high, rising 5 percent to 2.87 billion Singapore dollars as net interest income grew 8 percent to 1.83 billion Singapore dollars. DBS also said that its balance sheet remains strong, even as its non-performing loan rate rose slightly to 1 percent in the first quarter compared with the previous quarter.

Among the top gainers, SATS Limited rose 2.4 percent to 4.20 Singapore dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 4.3 percent to 36.95 Singapore dollars. (1 U.S. dollar equals to 1.34 Singapore dollars) Endit