Singapore stocks end down 0.06%

GMT 21:21 2015 Tuesday ,21 July

Arab Today, arab today Singapore stocks end down 0.06%

Singapore stocks
Singapore - XINHUA

Singapore shares closed 0.06 percent lower on Tuesday, as investors pared their shareholdings following days of gain.

Greek banks reopened as Athens began the process of paying off billions of euros owed to international creditors after it agreed to a new reform plan in exchange for another bailout to keep it in the euro zone.

Meanwhile, U.S. stocks ended overnight little changed as better- than-forecast corporate results offset a slump in commodities producers.

Singapore's benchmark Straits Times Index shed 2.07 points to 3, 371.41 points. Trading volume was 3.23 billion shares worth 985 million Singapore dollars. Advancers outnumbered decliners 257 to 205, while 492 stocks did not move.

Global Logistic Properties Limited rose 1.2 percent to 2.58 Singapore dollars. The largest provider of modern logistics warehouses in China said it plans to set up its second China- focused logistics infrastructure fund with seven investors, and aims to invest up to 7 billion U.S. dollars in the sector in the next four years.

Mapletree Logistics Trust shed 0.9 percent to 1.145 Singapore dollars. It reported revenue and net property income grew by a respectable 5 percent and 3 percent respectively to 85.1 million Singapore dollars and 71.1 million Singapore dollars for first quarter of 2016.

But its distributable income was lower by 1.6 percent to 45.8 million Singapore dollars and distribution per unit dipped by 2.6 percent to 1.85 Singapore cents, mainly due to an enlarged share base and a one-off divestment gain paid to unitholders last year.

Among the top gainers, Jardine Strategic rose 0.3 percent to 32. 10 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1.9 percent to 31.09 Singapore dollars. (1 U.S. dollar equals 1.37 Singapore dollars)

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