News @ AsiaOne

Singapore shares down 1.35 percent

STI fell 31.73 points to 2,320.82. -AFP

Thu, Jul 02, 2009
AFP

SINGAPORE - Singapore shares closed 1.35 percent lower in cautious trading Thursday as investors awaited a report on US jobs data, dealers said.

Analysts said investors expect the data to show further signs about the health of the recession-hit US economy, a key global economic growth engine.

The blue-chip Straits Times Index fell 31.73 points to 2,320.82 on volume of 1.38 billion shares worth $1.14 billion.

Decliners outnumbered rising stocks 251 to 175, with 831 issues unchanged.

"We're telling clients to hold off for now as the US economic numbers have not been fantastic given hopes for recovery," said an analyst with a local brokerage.

Among the banks, DBS fell 34 cents to 11.64, Oversea-Chinese Banking Corp was even at 6.75 and United Overseas Bank tumbled 18 cents to 14.50.

Property stocks ended lower, with CapitaLand easing 12 cents to 3.63, City Developments pulling back 20 cents to 8.51 and Keppel Land dipping five cents to 2.21.

Singapore Airlines declined 10 cents to 13.20, Singapore Telecom was steady at 2.99, shipping firm Neptune Orient Lines dropped four cents to 1.45 and media giant Singapore Press Holdings finished two cents lower at 3.17. --AFP

 
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