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Singapore stocks end down 0.13 pct

Xinhua, August 5, 2016 Adjust font size:

Singapore shares closed 0.13 percent lower on Friday, after the Bank of England (BoE) launched a post-Brexit stimulus campaign.

The BoE cut interest rate by quarter point rate to a record low of 0.25 percent, saying it would take "whatever action is necessary" to achieve stability in the wake of Britain's vote to leave the European Union. The central bank also revived a government bonds-buying program that has been on pause since 2012, adding it will also begin buying corporate bonds.

Investors will also focus on U.S. job report due later Friday for clues on the strength of the U.S. economy and the Federal Reserve's next move. Market consensus expects the July non-farm payrolls to come in at 180,000 compared with 287,000 the month before.

Singapore's benchmark Straits Times Index inched down 3.79 points to 2,828.17 points. Trading volume was 1.2 billion shares worth 1.15 billion Singapore dollars. Advancers outnumbered decliners 208 to 172, while 526 stocks did not move.

Among top actives, Genting Singapore fell 5 percent to 75.5 Singapore cents. The casino and resorts operator reported a net loss of 10.5 million Singapore dollars in the second quarter, compared with a 16.9 million Singapore dollar loss in the year-ago period. Its revenue fell about 17 percent on-year to 480.89 million Singapore dollars, mainly due to continued challenges for Asia's gaming industry.

Fraser and Neave Limited rose 1 percent to 2.11 Singapore dollars. The food and beverage company reported a 53 percent rise in its fiscal third quarter net profit ended June 30 to 38 million Singapore dollars from 24.9 million U.S. dollars a year ago on the back of higher earnings from the dairy segment. Its revenue, however, fell to 524 million dollars from 546.7 million dollars due mainly to a decline in sales of soft drinks in Malaysia.

Among top gainers, Jardine Cycle and Carriage rose 1.1 percent to 41.70 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.5 percent to 57.62 U.S. dollars. (1 U.S. dollar equals to 1.34 Singapore dollars) Endit