singapore stocks end a shade lower on rising volume 677872015

Singapore’s Straits Times Index ended in negative territory Thursday by a small margin after failing to scale the 3,360 level despite several attempts during the session.

Though volume traded was up compared to Wednesday, overall market breadth continued to be bearish.

Indices and sectors

The Straits Times Index (STI) ended 4.84 points or 0.14 per cent lower to 3,345, taking the year-to-date performance to -0.60 per cent.

The FTSE ST Mid Cap Index declined 0.54 per cent, while the FTSE ST Small Cap Index declined 0.92 per cent.

The Singapore Exchange traded a volume of 1,664.5 million shares valued at SG$1,563.3 million. Losers outnumbered gainers by 298/140.

Amongst the FTSE ST sectors, the only gainers were telecommunications (+2.19 per cent) and technology (+0.92 per cent). The largest losing sectors were consumer goods (-2.21 per cent), healthcare (-2.02 per cent), basic materials (-1.93 per cent), China (-1.66 per cent), China top index (-1.29 per cent) and real estate holding and development (-1.04 per cent).

Stocks

TODAY reported that billionaire investor Peter Lim has paid an unspecified amount to acquire a 20 per cent stake in a new property portal TheEdgeProperty.com, owned by The Edge Media Group, and to be launched in Singapore next month. The new portal would feature mortgage products apart from the standard facilities to browse listings and search for properties.

Offshore marine services provider Vallianz Holdings Ltd (SGX:545) has raised US$10 million (SG$13.5 million) by the issue of 10 million convertible preference shares at US$1.00 each, according to Straits Times. According to the company, 70 to 80 per cent of the net proceeds of US$9.5 million would be utilised for fleet expansion with the rest being used for working capital requirements.

CapitaLand Limited (SGX:C31), which is the world’s largest international serviced residence owner and operator, announced Thursday that The Ascott Ltd, its wholly-owned serviced residence business unit, had succeeded in achieving its target of a global tally of 40,000 apartment units in advance of its previously planned schedule of end-2015.

Singapore focused business park and industrial trust Viva Industrial Trust (SGX:T8B) said Thursday it was going to raise up to SG$65 million through the issue of new stapled securities by private placement. “About SG$63.0 million, equivalent to 96.9 per cent of the maximum gross proceeds of the private placement, will be used to asset enhancement initiative (AEI) at Technopark@Chai Chee (TPCC) including the differential premium and other incidental costs payable to the relevant authorities and the costs of the addition and alteration works,” the company said, as quoted by Deal Street Asia.

Yuuzoo Corporation Ltd (SGX:AFC) announced its joint venture with XG AMA, an e-gaming provider in China, through a new company called YuuGames which will provide content for the millions of Chinese online gamers and 146,000 cafes and bars that in aggregate serve nearly 120 million gamers.

KTL Global Limited (SGX:EB7) will acquire a 20 per cent stake in Korean rigging equipment company Dae Kwang for US$5 million. “By taking a strategic stake in a well-established player in the ropes and rigging sector, we will gain a major foothold in Korea,” said Wilson Tan, chief executive officer of KTL Global, according to Business Times.

Shares in AsiaMedic Limited (SGX:505) surged 18.18 per cent to SG$0.130 after it revealed Tuesday the emergence of a new controlling stakeholder, according to Business Times.

Economic news

Data released by SRX Property showed that resale prices during May in the Housing Development Board (HDB) market remained flat compared to April when prices increased 0.2 per cent over March, according to Straits Times. However, compared to the previous month, volumes fell slightly by about 2.2 per cent, though on a year on year basis, the number of flats sold was up almost 20 per cent. According to analysts, the data may be an indication that prices have begun to stabilise.

On Wall Street overnight, the Dow Jones Industrial Average fell 170.69 points, or 0.94 percent, to 17,905.58, the S&P 500 lost 18.23 points, or 0.86 percent, to 2,095.84 and the Nasdaq Composite dropped 40.11 points, or 0.79 percent, to 5,059.13.