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Singaporean stocks end down 0.98 pct on Monday

Xinhua, April 17, 2017 Adjust font size:

Singapore shares closed 0.98 percent lower on Monday, as soft U.S. economic data weighed on investors sentiment.

On Friday, data showed U.S. retail sales dropped more than expected in March, while annual core inflation slowed to 2.0 percent, the smallest advance since November 2015, from 2.2 percent in February.

Meanwhile, French presidential election race looked tighter ahead of the first round of voting on April 23. Two polls put any of the four frontrunners, including far-right candidate Marine Le Pen and hard-left challenger Jean-Luc Melenchon, within reach of a two-person run-off vote.

Singapore's benchmark Straits Times Index fell 30.94 points to 3,138.30 points. Trading volume was merely 1.32 billion shares worth 746 million Singapore dollars. Decliners heavily outnumbered advancers 420 to 86.

SATS Limited rose 1 percent to 4.82 Singapore dollars. The food solutions provider officially launched its new eCommerce AirHub, a 21 million Singapore dollar facility ranging 6,000 square meters and co-funded by the Civil Aviation Authority of Singapore on Monday.

It said the new facility will enhance Changi Airport's e-commerce mail sorting capability to support the growing e-commerce market. With a fully-automated mail sortation system, the facility will increase the mailbag processing capacity of SATS from 500 to more than 1,800 an hour.

Frasers Centrepoint Limited fell 2 percent to 1.755 Singapore dollars. Its wholly-owned subsidiary Frasers Property Internationa is acquiring an 86.56 percent stake in Geneba Properties N.V. for 471.6 million Singapore dollars. Headquartered in Amsterdam, the Netherlands, Geneba is an European commercial real estate company which owns and manages long-lease logistics and industrial assets in Germany and the Netherlands.

Among top gainers, Great Eastern Holdings rose 0.3 percent to 21.88 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.3 percent to 64.65 U.S. dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Enditem