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Roundup: Singapore stocks end down 0.07 pct

Xinhua, October 20, 2016 Adjust font size:

Singapore shares closed 0.07 percent lower on Thursday, as investors took some profits after the third and final U.S. presidential debate.

Most investors now expect Democrat presidential candidate Hillary Clinton will win the Nov. 8 election despite much effort by Republican presidential candidate Donald Trump in the final presidential debate trying to reverse the momentum in an election that polls show is tilting away from him.

U.S. stocks also rose overnight following strong earning performance from a number of U.S. companies. With 70 companies in the Standard and Poors 500 having reported earnings through Wednesday morning, 80 percent have topped earnings expectations.

Meanwhile, oil prices jumped after a surprisingly large U.S. inventory drop of 5.2 million barrels, compared with a forecast for a 2.7-million barrel build. It was the sixth week of declines in seven weeks.

Singapore's benchmark Straits Times Index fell 2 points to 2,842.62 points. Trading volume was 1.56 billion shares worth 888 million Singapore dollars. Advancers outnumbered decliners 180 to 158, while 561 stocks did not move.

Singapore Exchange Limited inched down 0.1 percent to 7.21 Singapore dollars. The bourse operator reported a 16.3 percent fall in first-quarter earnings to 83.1 million Singapore dollars year-on-year. Its operating revenue fell 13 percent to 190.8 million Singapore dollars year-on-year as revenue for both its securities and derivatives business decreased.

Hi-P International rose 6.5 percent to 49 Singapore cents. It has issued a revised profit guidance announcement for its third-quarter results. Instead of a lower profit from a year ago as guided in August, the manufacturer of plastic moulds now expects to report a higher profit due to "tighter cost controls, improvement in production efficiency and higher sales."

Among the top gainers, Singapore Airlines rose 0.7 percent to 10.25 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.1 percent to 61 U.S. dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit