Singapore shares closed 0.09 percent lower on Friday, after flaring Ukraine tensions dampened market sentiment.
Ukrainian president said Russian troops had entered his country in support of pro-Moscow insurgents who captured a key coastal town, escalating a five-month-old conflict. The United States on Thursday openly accused Russia of sending combat forces into Ukraine and threatened to tighten economic sanctions, but stopped short of calling Russia's latest step an invasion.
Singapore's benchmark Straits Times Index inched down 3.13 points to 3,327.09 points. Trading volume was 1.79 billion shares worth 1.08 billion Singapore dollars. Decliners outnumbered advancers 211 to 195, while 537 stocks did not move.
Olam International rose 3.9 percent to 2.65 Singapore dollars. The commodities trader said its net profit for the quarter ended June 30 fell 43.9 percent to 31.8 million Singapore dollars, but full-year net profit jumped 67.8 percent to 608.5 million Singapore dollars on one-off gains. It recommended a cash dividend of 5 Singapore cents per share for the year, as well as a special dividend of 2.5 Singapore cents per share.
Global Logistic Properties Limited inched down 0.3 percent to 2. 85 Singapore dollars. The leading provider of modern logistics facilities in China, Japan and Brazil has signed new lease agreements totaling 49,000 square meters with three leading e- commerce companies in Eastern and Northern China. The customers are setting up new distribution centers driven by business expansion. Two of the agreements were signed with existing customers of Global Logistic Properties.
Straco Corporation sank 4.3 percent to 78.5 Singapore cents. It is buying the 165-metre-high Singapore Flyer attraction by the Marina Promenade for 140 million Singapore dollars. Straco will fund the purchase with part of its 100 million Singapore dollar cash pile. The company will also be taking on debt.
Among top gainers, STATS ChipPAC Limited jumped 13.6 percent to 75 Singapore cents, while Jardine Matheson became one of the top losers by falling 0.9 percent to 60.26 U.S. dollars. (1 U.S. dollar equals 1.25 Singapore dollars)