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Singapore stocks end down 0.21 pct

Xinhua, April 11, 2017 Adjust font size:

Singapore shares closed 0.21 percent lower on Tuesday, as investors grappled with geopolitical tensions in the Middle East and the Korean Peninsula.

U.S. stock prices ended a choppy session little changed, weighed down by reports that Trump is open to authorizing additional strikes on Syria if the use of chemical weapons continues in the country.

Singapore's benchmark Straits Times Index fell 6.7 points to 3,174.75 points. Trading volume was 2.27 billion shares worth 1.09 billion Singapore dollars. Decliners outnumbered advancers 272 to 197.

Midas Holdings rose 2.2 percent to 23.5 Singapore cents. It announced that its joint venture company, CRRC Nanjing Puzhen Rail Transport, has secured a metro train car supply contract worth 543 million Chinese yuan in China. The supply contract was awarded by Shanghai Rail Transit Line Two Development for the Shanghai Metro Line 2, with delivery scheduled between January 2018 and November 2018. The transaction is targeted to close by the end of second quarter of 2017.

Rotary Engineering fell 2.4 percent to 41.5 Singapore cents. It has secured two projects worth more than 120 million U.S. dollars in Dubai, United Arab Emirates and Thailand. The two engineering, procurement, construction of tank storage projects are for the oil refineries of ENOC (Emirates National Oil Company) and Thai Oil Public Company. The tanks are an expansion of both refineries' existing refining capacity. The ENOC contract is part of a 1 billion U.S. dollar refinery expansion project by ENOC.

Among top gainers, Jardine Cycle and Carriage rose 1.3 percent to 45.98 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.6 percent to 65.70 U.S. dollars. (1 U.S. dollar equals to 6.9 Chinese yuan and 1.40 Singapore dollars) Endit