singapore stocks end the week on a bearish note 677852015

Trading on the Singapore Exchange on Friday was marked by poor volume and declines across the broad market.

This Friday’s session finished off a forgettable 4-day run in which stocks showed no intention of recouping the sizable losses clocked on the last day of the previous week.

Indices and sectors

The Straits Times Index (STI) ended Friday 11.33 points or 0.34 per cent lower to 3,333.67, taking the year-to-date performance to -0.94 per cent.

The FTSE ST Mid Cap Index declined 0.40 per cent, while the FTSE ST Small Cap Index remained unchanged.

The Singapore Exchange traded a volume of 1,282.4 million shares valued at SG$1,179.8 million. Losers outnumbered gainers by 275/158.

Amongst the FTSE ST sectors, the gainers were basic materials (+1.61 per cent), consumer goods (+0.67 per cent) and utilities (+0.50 per cent). The biggest losing sectors were real estate holding and development (-1.66 per cent), maritime (-1.53 per cent), technology (-1.47 per cent) and real estate (-0.99 per cent).

Stocks

Singapore focused business park and industrial property trust Viva Industrial Trust (SGX:T8B) said it revised the original offer size of its private placement of new stapled securities from SG$40 million to SG$63 million following heavy demand from investors, both institutional and private. The company will now issue 80.3 million new stapled securities at 78.5 cents each, according to the Straits Times.

City Developments Limited (SGX:C09) slumped 4.12 per cent to SG$9.77 on news that effective June 22, 2015, it will be removed from the FTSE EPRA/NAREIT Global Developed Index after FTSE completed its quarterly review of the index, according to Straits Times.

Q & M Dental Group (Singapore) Limited (SGX:QC7) crashed 9.57 per cent to SG$0.850 after the company announced that substantial shareholders Quan Min Holdings and Heritas Helios Investments planned to undertake a vendor sale. Apart from these shareholders, four other shareholders – Kelvin Koh, Felicia Koh, Foo Mooh Thong and Health Field Enterprise, are also expected to join in the offering, according to the Business Times.

Transport operator SMRT Corporation Ltd. (SGX:S53) has announced it will not exercise its option to invest up to SG$34.5 million in OMG by subscribing to shares in the company. “The Company has reviewed its capital allocation priorities and decided at this time not to take a passive interest in any investment, which would have been the case in the venture with OMG. Instead, the Company will continue to place its investment focus on business areas such as in rail engineering where the Company has an active interest,” SMRT said, according to Deal Street Asia.

According to a report by the Singapore Exchange, Singapore companies paid out the highest dividends in Asia in May. The FTSE Singapore Index gave a dividend yield of 3.41 per cent while Malaysia and Thailand posted yields of 3.23 per cent and 3.15 per cent respectively, said Asia One. The FTSE Singapore Index consists of 41 large and mid-cap stocks.

Economic news

Private equity firm Navis Capital Partners has agreed to pay between SG$60 million to SG$80 million to acquire a majority stake in Imperial Treasure Restaurant Group Pte, which owns the well-known “Super Peking Duck” eateries, says the Straits Times, quoting an informed person. Imperial Treasure founder Alfred Leung will reportedly continue with his holding in the company and remain involved in the business, however.

On Wall Street Friday, the Dow Jones Industrial Average fell 56.12 points, or 0.31 percent, to 17,849.46, the S&P 500 lost 3.01 points, or 0.14 percent, to 2,092.83 and the Nasdaq Composite added 9.33 points, or 0.18 percent, to 5,068.46.