SINGAPORE, (PNA/Xinhua) — Singapore shares closed 0.17 percent lower, as investors took profit after disappointing U.S. jobs data raised expectations for the tapering of Federal Reserve stimulus to be postponed to next year.
U.S. nonfarm payrolls increased by 148,000 workers in September, less than expected. While the employment gain in August was revised up, the July figure was revised down to be the weakest since June 2012.
The report suggested the U.S. economy was losing momentum even before the fiscal standoff that partially shut down the government for more than two weeks, lending credence to the central bank’s decision to hold off on reducing its stimulus.
DBS Group Research said “for the Straits Times Index, we continue to see a near-term cap at 3,250 points and working towards 3,330 points by year-end on the assumption of a benign third quarter results season.
CIMB Research said “the rebound from 3,122 points is still ongoing but it is now sitting within the 3,198 points and 3,220 points resistance band.”
Singapore’s benchmark Straits Times Index fell 5.41 points to 3,204.80. Trading volume was 2.54 billion shares worth 1.33 billion Singapore dollars. Advancers slightly outnumbered decliners 238 to 206, while 510 stocks did not move.
Global Logistic Properties shed 0.3 percent to 3.09 Singapore dollars. It has signed lease agreements for totaling 25,000 square meters with Deppon Logistics at GLP Park Wangting in Suzhou, eastern China and GLP Park Hunnan in Shenyang, northeastern China.
Mapletree Industrial Trust closed flat at 1.365 Singapore dollars. Its second quarter distributable income came in 9.7 percent higher on year at 41.1 million Singapore dollars, translating to a distribution per unit of 2.47 Singapore cents.
Yoma Strategic fell 1.9 percent to 76.5 Singapore cents. It announced that its 70-percent owned subsidiary German Car Industries Company has signed a non-exclusive agreement with Volkswagen to operate Volkswagen’s first service center in Myanmar.
Among the top gainers, Jardine Strategic rose 1.4 percent to US$ 34.18, while Jardine Cycle and Carriage became one of the top losers by falling 1.1 percent to 36.01 Singapore dollars. (1 U.S. dollar equals to 1.24 Singapore dollars)