Shares in Singapore
closed unchanged Friday as some traders took advantage of a sharp fall earlier
in the day to buy.
The 30-share Straits Times Index closed 0.53 points higher
at 3288.13 after opening in the red and slipping to as low as 3274.86. Shares
had fallen 0.6% on Thursday, breaking a three-day winning streak. Gainers
outnumbered losers 263 to 196 and volume was lower at 4.32 billion shares
compared with 5.75 billion on Thursday.
Other Asian markets were mixed following poor economic data
from Europe, while Australia
rebounded from Thursday's heavy selling. Most markets on the back foot early
Friday following the release of weaker-than-expected manufacturing purchasing
managers' indexes from Germany
and France .
The absence of further bad news during Asian trading however, meant that
regional markets were able to turn positive or pare their losses as the session
progressed.
In Singapore ,
Genting Singapore
was the top performer, up 3.7% at S$1.555 after the casino resorts operator
Thursday evening reported a 38% drop in fourth-quarter net profit mainly
because of one-time costs. However, investors likely felt confident about
buying as Genting flagged a cautiously optimistic outlook as its
premium-gambler business showed signs of recovery.
Noble Group closed 2.1% higher at S$1.19 after announcing a
deal to sell a majority stake in a proposed palm plantation in Papua in east Indonesia to
Wilmar International.
Wilmar, which separately announced a 4.7% decline in its
fourth-quarter income, closed 1.4% lower at S$3.63.
Sembcorp Marine was the worst performer among the 30 STI
stocks after the rig builder reported weaker income after the market closed on
Thursday. Shares closed 4.7% lower at S$4.51. Shares of the parent, Sembcorp
Industries, were also pulled lower by 4.0% and closed at S$5.24.
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