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Singapore stocks end down 0.01 pct

Xinhua, November 1, 2016 Adjust font size:

Singapore shares closed 0.01 percent lower on Tuesday, as a lack of fresh catalysts kept many investors on the sideline.

U.S. stocks fell overnight as investors appeared cautious at the start of a busy week that includes earnings results, central-bank meetings and the monthly U.S. jobs report on Friday, and ahead of next week's U.S. election.

Singapore's benchmark Straits Times Index inched down 0.18 points to 2,813.69 points. Trading volume was 1.31 billion shares worth 833 million Singapore dollars. Decliners slightly outnumbered advancers 182 to 167, while 549 stocks did not move.

Among top actives, Imperium Crown ended flat at 7 Singapore cents. The real estate investment group announced it is acquiring a 30 percent stake each in two subsidiaries of Shandong Yinguang Chemical Industry (Yinguang Group) for combined 5 million Singapore dollars.

Yinguang Group holds real estate assets related to the cultural, media, art assets and businesses within the film industry in China's Shandong province. Imperium Crown will acquire a 30 percent stake in Linyi Yinguang Cineplex Management, a cineplex with a built-up area of approximately 2,600 square meters comprising five cinema halls that are scheduled to commence operations in June 2017.

Imperium Crown will also acquire a 30 percent stake in Zaozhuang Yinguang Cineplex, a cineplex development with a built-up area of about 12,000 square meters comprising eight cinema halls, an antiques auction house and retail outlets, which is slated for completion in the second half of 2017.

OUE Hospitality Trust rose 0.7 percent to 68.5 Singapore cents. It reported a 28 percent decline in third quarter distribution per stapled security 1.23 Singapore cents from 1.72 Singapore cents in the same period last year, mainly due to lower income available for distribution and an enlarged number of units following a rights issue. Its gross revenue rose 2 percent to 33.3 million Singapore dollars and net property income was 2.4 percent higher at 29.4 million Singapore dollars.

Among the top gainers, Jardine Cycle and Carriage rose 0.9 percent to 42.59 Singapore dollars, whereas Great Eastern Holdings became one of the top losers by falling 0.4 percent to 20.34 Singapore dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit