1st Ld Writethru: Singapore stocks end down 0.59 pct

Singapore shares closed 0.59 percent lower on Tuesday, after U.S. stocks fell overnight due to drastic travel curb ordered by U.S. President Donald Trump.

Market sentiment deteriorated following the executive order signed by Trump on Jan. 27 to bar Syrian refugees indefinitely and suspend travel to the United States from seven Muslim-majority countries. The order sparked widespread protests across the United States and overseas.

Meanwhile, oil prices fell following news of another weekly increase in U.S. drilling activity.

According to Baker Hughes data, the number of active U.S. oil rigs rose last week to the highest level since November 2015, with drillers encouraged by oil prices above 50 U.S. dollars a barrel. Market players were concerned that production cuts from other producing nations may not reduce the global supply glut as much as had been hoped.

Singapore's benchmark Straits Times Index fell 18.05 points to 3,046.80 points. Trading volume was 1.29 billion shares worth 1.07 billion Singapore dollars. Decliners outnumbered advancers 215 to 192, while 678 stocks did not move.

Among top gainers, Jardine Matheson rose 0.4 percent to 61.72 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.2 percent to 41.35 Singapore dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit