Off the wire
• Indonesia plans to unveil fresh economic measures  • Drug busts, arrests in Cambodia remarkably up in H1  • Record number of cars recalled in China  • Feature: A city's sad memory of Tangshan quake victims  • General individual classification after 11th stage of 2016 Tour of Qinghai Lake  • Urgent: Casualties feared as blast rocks northern Kabul  • 1st LD: Sticky bomb blast wounds policeman in Kabul  • Turkish university names "heroic" Turks in coup attempt for Nobel peace prize  • Turkish Foreign Ministry dismisses 88 employees following coup investigations  • German unemployment declines in July  
You are here: 　 Home

Singapore stocks end down 0.78 pct

Xinhua, July 28, 2016 Adjust font size:

Singapore shares closed 0.78 percent lower on Thursday, after the U.S. Federal Reserve decided to leave interest rates unchanged for now.

U.S. stocks ended little changed overnight following the central bank's policy decision to leave interest rates unchanged. The Federal Reserve did say, however, that near-term risks to the U.S. economic outlook had diminished, opening the door for a potential near-term hike in the eyes of many.

Meanwhile, investors were watching closely the movements of Chinese markets following news that Chinese regulators are planning a tough clampdown on wealth management products to curb risks to the banking system.

Singapore's benchmark Straits Times Index fell 22.87 points to 2,918.62 points. Trading volume was 1.25 billion shares worth 878 million Singapore dollars. Decliners outnumbered advancers 246 to 163, while 498 stocks did not move.

Singapore Exchange shed 1 percent to 7.66 Singapore dollars. The local bourse operator reported net profit of 349 million Singapore dollars for financial year 2016 ended June, unchanged from the previous year. Its revenue increased 5 percent to 818.1 million Singapore dollars. Its earnings were negatively impacted by a 6 million Singapore dollar impairment charge on its investment in the Bombay Stock Exchange.

United Overseas Bank fell 1.3 percent to 18.70 Singapore dollars. The Southeast Asia's third-largest bank by assets reported a 5.1 percent rise in second-quarter net profit to 801 million Singapore dollars from 762 million Singapore dollars a year earlier, mainly attributable to higher net trading income on improved performance from trading activities.

Among the top gainers, Jardine Strategic rose 2.3 percent to U.S. dollars, whereas DBS Group became one of the top losers by falling 3 percent to 57.50 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endit