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Roundup: Singapore stocks end 0.23 pct down

Xinhua, November 2, 2016 Adjust font size:

Singapore shares closed 0.23 percent lower on Wednesday, as investors were concerned with the tightening race of the U.S. presidential election just days out to the Nov. 8 vote.

Wall Street fell overnight as investors preferred to stay out of riskier assets such as stocks ahead of the U.S. presidential election amid worries that Republican candidate Donald Trump is closing the gap with his Democratic rival Hillary Clinton in the presidential election race.

Meanwhile, oil prices also tumbled to one-month lows due to larger-than-expected U.S. crude inventory in addition to concerns about oversupply from growing doubts over whether oil producing countries can agree on an output cut later this month.

Singapore's benchmark Straits Times Index fell 6.55 points to 2,807.14 points. Trading volume was 1.31 billion shares worth 1 billion Singapore dollars. Decliners outnumbered advancers 240 to 119, while 538 stocks did not move.

Pacific Radiance rose 2 percent to 15.4 Singapore cents. It has won a new contract worth 73 million U.S. dollars including options, for a new-build vessel to be used in Mexico. The maintenance work boat will be deployed to perform platform maintenance, diving and subsea maintenance, as well as offshore construction work. It will be Pacific Radiance's third vessel to operate in Mexico, adding to two anchor handling tug supply vessels that have been operating there since 2014.

OUE Commercial REIT closed flat at 69 Singapore cents. It is declaring a distribution per unit of 1.32 Singapore cents for third quarter, 29.4 percent higher than the 1.02 Singapore cents for the same period last year. Its gross revenue more than doubled to 44.2 million Singapore dollars in third quarter, mainly due to contribution from One Raffles Place which was acquired in October last year, as well as improved performance at OUE Bayfront and Lippo Plaza.

Among the top gainers, Global Logistic Properties jumped 8.7 percent to 1.945 Singapore dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 0.9 percent to 42.21 Singapore dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit