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Roundup: Singapore stocks end down 0.4 percent

Roundup: Singapore stocks end down 0.4 percent

SINGAPORE, Jan. 16 (PNA/Xinhua) — Singapore shares closed 0.4 percent lower on Monday as investors treaded carefully ahead of a speech by British Prime Minister Theresa May and the inauguration ceremony of U.S. President-elect Donald Trump later in the week.

Markets await the speech by British Prime Minister Theresa May in which she may spell out an end to her country’s participation in the European Union’s single market. Investors will also closely watch Donald Trump as he will be sworn in on Jan. 20.

Singapore’s benchmark Straits Times Index fell 11.95 points to 3,013.12 points. Trading volume was 2.79 billion shares worth 817 million Singapore dollars (572 U.S. dollars). Decliners outnumbered advancers 277 to 162, while 651 stocks did not move.

Among top actives, CNMC Goldmine Holdings sank 6.7 percent to 41.5 Singapore cents. It issued a profit warning, projecting to report a net loss for the quarter ended Dec. 31, 2016.

CNMC said this is mainly due to unrealized foreign exchange losses due to the depreciation of the Malaysian ringgit against the U.S. dollar, as well as a decline in revenue as a result of lower ore grades.

Despite the fourth-quarter loss, CNMC expects to be profitable for the whole financial year 2016.

Singapore Press Holdings fell 3.5 percent to 3.56 Singapore dollars. It reported net profit of 45.7 million Singapore dollars in the quarter ended Nov. 30, 2016, a decline of 43.8 percent from earnings of 81.3 million Singapore dollars a year ago.

This was mainly attributed to a 28.5 percent drop in operating profit to 70.8 million Singapore dollars due to charges of 15.9 million Singapore dollars arising from the media business review and impairment of an associate.

Among top gainers, Jardine Matheson rose 0.8 percent to 60.15 dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.9 percent to 41.12 Singapore dollars. (1 Singapore dollar = 0.7 U.S. dollar) (PNA/Xinhua)
LAM/CDN

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