Singapore stocks end down 0.65 pct

Singapore shares closed 0.65 percent lower on Thursday, as most investors were away since China and Hong Kong markets were closed for Dragon Boat Day.

Crude oil prices continued to rise due to a weaker dollar, and supply worries caused by a sabotage of oil facilities in major producer Nigeria. U.S. crude oil futures extended overnight gains to reach an 11-month high of near 52 U.S. dollars a barrel. Brent crude futures also rose to highest level since October 2015.

Singapore's benchmark Straits Times Index retreated 18.58 points to 2,843.8 points. Trading volume was 1.05 billion shares worth 913 million Singapore dollars. Decliners outnumbered advancers 218 to 169, while 519 stocks did not move.

Japfa Limited advanced 6.7 percent to 79.5 Singapore cents. It announced that global investment firm KKR will invest about 81.2 million U.S. dollars for a 10.44 percent interest in Japfa's major subsidiary, PT Japfa Comfeed Indonesia.

PT Japfa will place out 750 million new shares to KKR via a private placement at about 52.9 million U.S. dollars. Concurrent with the private placement, Japfa will sell 441.7 million shares in PT Japfa to KKR for an estimate sum of 28.3 million U.S. dollars. Post the KKR investment, Japfa will continue to hold a 51 percent stake in PT Japfa.

Olam International inched down 0.5 percent to 1.89 Singapore dollars. It has acquired Alabama's biggest peanut sheller, Brooks Peanut Co, for an enterprise value of 85 million U.S. dollars. Olam's purchase of Brooks, which follows its acquisition of U.S.-based peanut sheller McCleskey Mills in December 2014, further integrates its direct farm procurement and shelling.

Among the top gainers, Otto Marine soared 37 percent to 31.5 Singapore cents, whereas Jardine Cycle and Carriage became one of the top losers by falling 0.6 percent to 34.26 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endit