Singapore shares closed 0.2 percent lower on Tuesday, as investors turned their attention to the Chinese Communist Party policy-meeting for clues to China's economic agenda for the next decade.
U.S. stocks edged up overnight, lifting the Dow Jones industrial average index to another record closing high in light volume on Veterans Day. But all eyes will be on the unveiling of China's economic blueprint for the next decade later on Tuesday.
Phillip Securities Research forecast 3,100 points will be the short-term key support for Straits Times Index.
Singapore's benchmark Straits Times Index inched down 6.47 points to 3,180.25 points. Trading volume was 1.82 billion shares worth 981 million Singapore dollars. Decliners outnumbered advancers 244 to 158, while 551 stocks did not move.
Japan Foods Holding surged 14.8 percent to 93 Singapore cents. It is proposing bonus issue on the basis of one bonus Share for every two existing shares held. The proposed bonus issue is to increase the issued share capital base of the company to reflect the growth and expansion of the Group's business, to give due recognition to the shareholders for their loyalty and continuing support and also to encourage trading liquidity of the shares.
United Envirotech inched up 0.6 percent to 87.5 Singapore cents. It reported second-quarter net profit of 7.4 million Singapore dollars on sales of 51.9 million Singapore dollars. The earnings were weaker-than-expected mainly due to higher operating expenses and interest costs.
Cordlife Group closed flat at 1.25 Singapore dollars. It has signed an agreement with China Cord Blood Corporation to jointly explore and develop new services based on cellular technologies.
Among top gainers, HK Land rose 1.1 percent to 6.27 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by dropping 3.2 percent to 35 Singapore dollars. (1 U.S. dollar equals 1.25 Singapore dollars)