Singapore stocks end down 0.15 pct on Monday

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0 Comment(s)Print E-mail Xinhua, May 29, 2017
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SINGAPORE, May 29 (Xinhua) -- Singapore shares closed 0.15 percent lower on Monday, given the lack of fresh catalysts and muted performance on Wall Street last Friday.

The U.S. and China markets are closed for holiday on Monday. The week's focus will be on U.S. economic data, which include personal spending as well as employment. China's Caixin manufacturing purchasing mangers' index (PMI) and official manufacturing PMI for May will also be closely watched.

Maybank Kim Eng Research said "technically, the Straits Times Index has dipped below its 20-day moving average amid deteriorating momentum and appears headed towards its near term support at 3,190 points, while upside resistance remains at 3,275 points."

Singapore benchmark Straits Times Index fell 4.87 points to 3,214.55 points. Trading volume was 1.76 billion shares worth 669 million Singapore dollars. Decliners slightly outnumbered advancers 222 to 213.

StarHub Limited rose 0.4 percent to 2.71 Singapore dollars. It announced it is acquiring 51 percent stake in cyber security systems integrator Accel Systems and Technologies for 19.4 million Singapore dollars. This will complement Starhub's in-house capabilities to provide end-to-end cyber security solutions and services.

China Sunsine fell 1.3 percent to 76 Singapore cents. It disclosed that Chinese Ministry of Environmental Protection inspection team has identified some lapses at its Shandong Sunsine factory. The Shanxian Environmental Protection Department has been directed to ensure that the group carries out rectification works. The management of China Sunsine stressed that no environmental laws were breached, and no stop or suspension order were issued, nor was production affected in any way.

Among top gainers, Jardine Strategic rose 0.7 percent to 41.78 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 0.5 percent to 44.16 Singapore dollars. (1 U.S. dollar equals to 1.38 Singapore dollars) Enditem

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