Singapore stocks end down 0.73 pct

Singapore shares closed 0.73 percent lower on Friday, as concerns over the June 23 referendum that could see Britain exit the European Union began to weigh on investors' mind.

News that polls suggested the increasing probability of Britain leaving Europe kept investors on edge. Oil prices fell after notching another 2016 high overnight, although persistent threats by militants against Nigeria's oil industry and fear of more security incidents that could hit supply limited losses in crude.

Meanwhile, China reported mixed inflation data as May producer prices fell 2.8 percent in the month, which was slower than market's expected fall of 3.2 percent. The May consumer prices rose 2 percent on-year compared to an expected 2.2 percent growth.

Singapore's benchmark Straits Times Index fell 20.83 points to 2,822.97 points. Trading volume was 1.02 billion shares worth 919 million Singapore dollars. Decliners outnumbered advancers 221 to 165, while 520 stocks did not move.

Ascendas REIT fell 0.9 percent to 2.32 Singapore dollars. It announced the divestment of Jiashan Logistics Center in China for 26 million Singapore dollars. It is expected to realize a gain of about 5.1 million Singapore dollars from this sale over development cost. This come on the back of a recent divestment of Ascendas Z-Link in China for 160 million Singapore dollars which represents a significant gain above the original price of 62 million Singapore dollars paid back in 2011.

Keppel Corporation fell 2.1 percent to 5.59 Singapore dollars. KEPPEL Fels, the rig-building arm of Keppel Corporation, is close to clinching its first significant contract this year, having emerged as the frontrunner by a large margin for a tension leg wellhead platform contract. The deal with the Repsol-operated Ca Rong Do field development off southern Vietnam is valued at least of 500 million U.S. dollars.

Jardine Matheson rose 1 percent to 56 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 2.9 percent to 33.28 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Endit