Singapore stocks end down 1.41 pct

Source: Xinhua| 2017-09-04 18:30:31|Editor: ying
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SINGAPORE, Sept. 4 (Xinhua) -- Singapore shares closed 1.41 percent lower on Monday, as investors were sidelined following escalation of tension in Korean Peninsula.

Speaking outside the White House after meeting with President Donald Trump and his national security team, U.S. Defense Secretary Jim Mattis said on Sunday Trump asked to be briefed on all available military options on Korean Peninsula.

Meanwhile, U.S. stocks ended last week with modest gains after U.S. job growth slowed more than expected in August after two straight months of hefty increases. Nonfarm payrolls increased by 156,000 last month, missing market forecast of 180,000.

But on a brighter note, the Institute for Supply Management reported U.S. factory activity index soared to 58.8 in August, the highest reading since April 2011.

Maybank Kim Eng Research said "historically, September has been the second weakest month of the year for Singapore stocks and produced a median return of 0.02 percent since 1964."

Singapore benchmark fell 46.29 points to 3,230.97 points. Trading volume was 1.91 billion shares worth 1.18 billion Singapore dollars. Decliners outnumbered advancers 320 to 129.

China Everbright Water fell 2.1 percent to 46 Singapore cents. It is leading a consortium to undertake the Nanning Shuitang River integrated restoration Public-Private-Partnership project. The 22-year concession project includes the construction and operation of a waste water treatment plant with a capacity to process 40,000 tons per day. The group has a 78.99 percent stake in the consortium, followed by the government representative and remaining members. Total investment in the project is expected to be 1.47 billion Chinese yuan.

CITIC Envirotech fell 1.3 percent to 73.5 Singapore cents. It acquired engineering and construction firm Sichuan Zhongyu Environment Management (SZEM) for 45 million Chinese yuan. SZEM is a Grade I engineering contractor, which enables it to undertake civil and construction works for its projects and bid for large-scale engineering-procurement-construction projects.

Among top gainers, Jardine Strategic rose 0.3 percent to 43.97 U.S. dollars, while UOB became one of the top losers by falling 1.8 percent to 23.59 Singapore dollars. (1 U.S. dollar equals to 6.53 Chinese yuan and 1.36 Singapore dollars)

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