SINGAPORE, Dec. 11 (Xinhua) -- Singapore shares closed 0.49 percent lower on Friday, as investors turned cautious after Chinese yuan tumbled to almost four-and-a-half year low against the greenback.
The People's Bank of China (PBOC) set its guidance rate for yuan at the weakest level in more than four years on Friday, with the spot market rate hovering around 6.45 mark. This came ahead of the U.S. Federal Reserve's policy meeting next Tuesday and Wednesday, which investors widely expected first rate hike will be announced thereafter.
Singapore's benchmark Straits Times Index dropped 13.83 points to 2,834.63 points. Trading volume was 971 million shares worth 825 million Singapore dollars. Decliners outnumbered advancers 257 to 125, while 543 stocks did not move.
UMS Holdings rose 1 percent to 51 Singapore cents. The manufacturing and engineering firm said it has signed a Memorandum of Understanding with All Star Fortress (ASF), a Malaysia's aerospace metallic component manufacturing company. UMS will inject 40,000 Singapore dollars via new shares subscription for a 10 percent equity share of ASF. Another 7.5 million U.S dollars of secured convertible loans will be given to ASF for working capital and expanding manufacturing capacities.
Global Logistic Properties rose 0.5 percent to 2.01 Singapore dollars. It said that it has completed the acquisition of a 15.5 percent equity stake in China Materials Storage and Transportation Development Company (CMSTD), China's largest state-owned warehouse logistic provider for 436 million Singapore dollars.
The transaction will boost Global Logistic Properties' net asset value by 5 Singapore cents per share. The acquisition price of 5.86 Chinese yuan per share represents a 43 percent discount to the last transacted price of CMSTD share on Dec. 9 on the Shanghai Stock Exchange. This is largest equity investment in a Chinese logistics state-owned enterprise by a foreign company.
Among top gainers, Singapore Exchange Limited rose 0.9 percent to 7.47 Singapore dollars, while Jardine Cycle and Carriage became one of the top losers by falling 3.2 percent to 33.80 Singapore dollars. (1 U.S. dollar equals to 6.455 Chinese yuan and 1.41 Singapore dollars)
Xinhuanet
Singapore stocks end down 0.49 pct
English.news.cn 2015-12-11 19:08:05
SINGAPORE, Dec. 11 (Xinhua) -- Singapore shares closed 0.49 percent lower on Friday, as investors turned cautious after Chinese yuan tumbled to almost four-and-a-half year low against the greenback.
The People's Bank of China (PBOC) set its guidance rate for yuan at the weakest level in more than four years on Friday, with the spot market rate hovering around 6.45 mark. This came ahead of the U.S. Federal Reserve's policy meeting next Tuesday and Wednesday, which investors widely expected first rate hike will be announced thereafter.
Singapore's benchmark Straits Times Index dropped 13.83 points to 2,834.63 points. Trading volume was 971 million shares worth 825 million Singapore dollars. Decliners outnumbered advancers 257 to 125, while 543 stocks did not move.
UMS Holdings rose 1 percent to 51 Singapore cents. The manufacturing and engineering firm said it has signed a Memorandum of Understanding with All Star Fortress (ASF), a Malaysia's aerospace metallic component manufacturing company. UMS will inject 40,000 Singapore dollars via new shares subscription for a 10 percent equity share of ASF. Another 7.5 million U.S dollars of secured convertible loans will be given to ASF for working capital and expanding manufacturing capacities.
Global Logistic Properties rose 0.5 percent to 2.01 Singapore dollars. It said that it has completed the acquisition of a 15.5 percent equity stake in China Materials Storage and Transportation Development Company (CMSTD), China's largest state-owned warehouse logistic provider for 436 million Singapore dollars.
The transaction will boost Global Logistic Properties' net asset value by 5 Singapore cents per share. The acquisition price of 5.86 Chinese yuan per share represents a 43 percent discount to the last transacted price of CMSTD share on Dec. 9 on the Shanghai Stock Exchange. This is largest equity investment in a Chinese logistics state-owned enterprise by a foreign company.
Among top gainers, Singapore Exchange Limited rose 0.9 percent to 7.47 Singapore dollars, while Jardine Cycle and Carriage became one of the top losers by falling 3.2 percent to 33.80 Singapore dollars. (1 U.S. dollar equals to 6.455 Chinese yuan and 1.41 Singapore dollars)
