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Roundup: Singapore stocks end down 0.41 pct

Xinhua, June 21, 2016 Adjust font size:

Singapore shares closed 0.41 percent lower on Tuesday, as investors stayed cautious ahead of British referendum on Thursday.

U.S. stocks rebounded but ended off session highs on Monday after the latest polls showed the British campaign to remain in the European Union is gaining ground before Thursday's referendum. Investors also focused on U.S. Federal Reserve Chair Janet Yellen who will testify on monetary policy before lawmakers Tuesday and Wednesday in a semi-annual report.

Singapore's benchmark Straits Times Index fell 11.42 points to 2,789.45 points. Trading volume was 985 million shares worth 942 million Singapore dollars. Decliners outnumbered advancers 190 to 157, while 557 stocks did not move.

Global Logistic Properties fell 0.8 percent to 1.79 Singapore dollars. It has secured new leases that totaled 98,000 square meters with five Chinese companies.

The new leases are mainly related to expansion demand from the organized retail sector, including e-commerce and chain stores.

The customers include Cainiao, which is a data and technology-based logistics platform focused on e-commerce and affiliated to the Alibaba Group; Best Logistics, a leading third-party logistics provider and Global Logistic Properties' largest customer by leased area in China; and a fast growing fresh food provider serving over 10 million small and medium-sized restaurants across China.

Rowsley Limited closed flat at 13.3 Singapore cents. It will acquire mechanical and electrical engineering firm Squire Mech Private Limited for up to 19.5 million Singapore dollars. Rowsley seeks to further strengthen the multi-disciplinary capabilities of the group with the proposed acquisition. To fund the acquisition, 130 million new shares of Rowsley at a price of 15 Singapore cents per share will be issued.

Among the top gainers, Jardine Matheson rose 0.5 percent to 55.99 U.S. dollars, whereas Singapore Exchange Limited became one of the top losers by falling 0.9 percent to 7.48 Singapore dollars. (1 U.S. dollar equals to 1.34 Singapore dollars) Endit