Roundup: Singapore stocks end down 0.38 pct

Singapore shares closed 0.38 percent lower on Friday, as investors remained skeptical over Wall Street rally overnight against the backdrop of tepid economic growth and weak quarterly earnings season.

U.S. stocks recovered on Thursday as energy shares rebounded along with oil prices and technology shares pared losses. But the gloomy updates from some U.S. largest retailers and dismal economic data from other major economies kept investors from buying stocks aggressively.

Singapore's benchmark Straits Times Index fell 10.48 points to 2,734.91 points. Trading volume was 982 million shares worth 1.04 billion Singapore dollars. Decliners outnumbered advancers 249 to 140, while 521 stocks did not move.

Singapore Airlines fell 5.4 percent to 11 Singapore dollars. Its full-year earnings soared to 804.4 million Singapore dollars, from 367.9 million Singapore dollars in the last financial year, as lower net fuel costs compensated for weaker yields. But its revenue fell 2.2 percent to 15.23 billion Singapore dollars in the financial year, largely due to lower passenger revenue at the parent airline company, as well as lower cargo revenue.

Singapore Technologies Engineering lost 1.6 percent to 3.08 Singapore dollars. It reported net profit fell 15 percent to 110.2 million Singapore dollars in the first quarter ended March 31, from 130 million Singapore dollars a year ago. The poorer earning was attributed to lower profits from the land systems and marine segments, says the engineering solutions provider. Its revenue, however, rose 8 percent to 1.63 billion Singapore dollars from 1.51 billion Singapore dollars, on higher sales from the aerospace and electronics segments.

Among top gainers, Jardine Matheson rose 1.9 percent to 54.34 U.S dollars, while Jardine Cycle and Carriage became one of the top losers by falling 4.4 percent to 32.05 Singapore dollars. (1 U.S. dollar equals to 1.37 Singapore dollars) Endit