Singapore stocks end down 0.27 pct

Singapore shares closed 0.27 percent lower on Tuesday as investors continued to tread carefully ahead of a meeting between the leaders of the United States and China later this week.

Singapore's benchmark Straits Times Index fell 8.45 points to 3,179.06 points. Trading volume was merely 1.76 billion shares worth 882 million Singapore dollars. But advancers outnumbered decliners 250 to 194.

CapitaLand closed flat at 3.67 Singapore dollars. Its wholly-owned serviced residences business unit, The Ascott Limited, is expanding into South America with franchise agreements for two Citadines-branded serviced residences in Sao Paulo, Brazil. The 92-unit Citadines VN Jardins Sao Paulo and 122-unit Citadines VN Faria Lima Sao Paulo are scheduled to open in fourth quarter this year and 2020 respectively, both of which will be operated by a local real estate company, Vitacon.

Mm2 Asia rose 3.1 percent to 50 Singapore cents. UnUsUaL, mm2 Asia's spinoff, planned to raise 19.4 million Singapore dollars from initial public offering placement. UnUsUaL is placing out 96,990,000 shares at 20 Singapore cents each to retail and institutional investors in Singapore. The UnUsUaL group of companies is one of the leading names in Asia for concert promotion and production. Mm2 Asia will retain an indirect shareholding interest in UnUsUaL via UnUsUaL Management of 41.91 percent immediately after the placement.

Among top gainers, Jardine Cycle and Carriage rose 1.2 percent to 45.10 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.4 percent to 64.88 U.S. dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit