Singapore stocks end down 0.13 pct

Singapore shares closed 0.13 percent lower on Wednesday, as late profit-taking dragged index slightly lower despite rises in U.S. markets overnight.

U.S. stocks continued to rise on Tuesday amid expectations that President-elect Donald Trump plans to cut taxes and boost infrastructure spending, which would boost economy.

Investors also foresee that his proposals to deport illegal immigrants and impose tariffs on cheap imports, if implemented, are likely to drive inflation higher. That prospect has given rise to expectations that U.S. interest rates will rise faster than earlier anticipated.

Singapore's benchmark Straits Times Index inched down 3.56 points to 2,793.99 points. Trading volume was 1.73 billion shares worth 1.26 billion Singapore dollars. Advancers outnumbered decliners 201 to 185, while 519 stocks did not move.

Among top actives, Global Logistic Properties fell 1.7 percent to 1.995 Singapore dollars. The owner-operator of modern logistics facilities announced that it has signed 204,000 square meters of leases with DHL, Hitachi Transport System, Schenker and AGV Logística. These leases were signed for facilities across China, Japan, U.S. and Brazil, with the customers using the facilities for domestic distribution of demand from pharmaceutical, auto parts and consume goods industries.

Among the top gainers, Jardine Cycle and Carriage rose 1.9 percent to 39.95 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.3 percent to 54.50 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit