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1st LD Writethru: Singapore stocks end down 0.18 pct

Xinhua, November 3, 2016 Adjust font size:

Singapore shares closed 0.18 percent lower on Thursday, as market sentiment was dampened by weak U.S. markets overnight.

U.S. stocks fell after polls showed that Hillary Clinton's lead over Donald Trump in the presidential race has tumbled to just 1.7 percentage points. Investors also shrugged off the Federal Reserve's decision to leave rates unchanged and keeping expectations for a December hike. Meanwhile, oil price continued to decline on skepticism that major oil producers will be able to carry forth the planned production cuts.

Singapore's benchmark Straits Times Index inched down 5.06 points to 2,802.08 points. Trading volume was 1.66 billion shares worth 1.04 billion Singapore dollars. Advancers slightly outnumbered decliners 198 to 188, while 512 stocks did not move.

Super Group soared 29.9 percent to 1.26 Singapore dollars. The 3-in-1 coffee manufacturer has received an offer to take over the company from Netherlands-incorporated Jacobs Douwe Egberts (JDE), a global player in the tea and coffee business. Sapphire Investments, a JDE subsidiary, is offering 1.30 Singapore dollars for each share it does not own. The offer price is 34 percent higher than Super's last traded price of 97 Singapore cents on October 31 before it called for a trading halt and values the deal at 1.45 billion Singapore dollars.

China Aviation Oil fell 2.1 percent to 1.40 Singapore dollars. It reported net earnings surging 31 percent to 23.2 million U.S. dollars as revenue soared 64.2 percent to 3.9 billion U.S. dollars in third quarter. The revenue increase was driven by higher total supply and trading volume, as revenue jumped mainly due to increased contribution from China Aviation Oil's associates and joint ventures' share of profits.

Among the top gainers, Global Logistics Properties rose 5.4 percent to 2.05 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.2 percent to 59.75 U.S. dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit