Singapore stocks end down 0.35 pct

Singapore shares closed 0.35 percent lower on Friday, as investors moved to the sidelines ahead of the U.S. August jobs report due later in the day.

Market in average forecast U.S. nonfarm payrolls to increase by 175,000 in September. If job creation is robust, it may raise likelihood for a U.S. rate increase in December.

Meanwhile, oil prices remained steady after U.S. crude broke through 50 U.S. dollars a barrel overnight, buoyed by an informal meeting among the world's biggest producers on output cuts and falling U.S. crude inventories.

Singapore's benchmark Straits Times Index fell 9.98 points to 2,875.24 points. Trading volume was 1.69 billion shares worth 872 million Singapore dollars. Decliners outnumbered advancers 198 to 166, while 543 stocks did not move.

New Silkroutes Group jumped 9.2 percent to 83.5 Singapore cents. It announced it is making a foray into the world of private equity by forming a joint venture with three parties, including the Singapore subsidiary of China's Nanshan Group, to develop private equity funds that will focus on Asia Pacific's healthcare and infrastructure sectors. New Silkroutes will hold a 30 percent equity stake in the joint venture company.

Singapore Exchange Limited lost 0.5 percent to 7.42 Singapore dollars. It reported total securities market value in September fell 8 percent, compared to a year ago. Compared with August, the value was unchanged. Securities daily average value rose 5 percent on-month and fell 13 percent on-year to 984 million Singapore dollars. In the derivatives market, total volume fell 3 percent on-month and 5 percent on-year to 13.4 million.

Among top gainers, Jardine Matheson rose 1.6 percent to 62 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1.1 percent to 43.07 Singapore dollars. (1 U.S. dollar equals to 1.37 Singapore dollars) Endit