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Singapore stocks end down 0.15 pct

by September 1, 2016 General

SINGAPORE, Sept. 1 (Xinhua) — Singapore shares closed 0.15 percent lower on Thursday, as weak crude oil prices dampened market sentiment.

Brent crude futures, the global oil benchmark, came under selling pressure after the U.S. Energy Information Administration said overnight that U.S. stockpiles of crude oil and refined products jumped by 4.5 million barrels in the week ended Aug. 26 to more than 1.4 billion barrels.

Investors were also waiting for key U.S. job data due Friday. A recent report from payroll processor ADP, which showed that private U.S. employers continued to hire at a solid clip in August by adding 177,000 workers, raised hopes for a strong showing in U.S. job data.

Singapore’s benchmark Straits Times Index fell 4.12 points to 2,816.47 points. Trading volume was merely 987 million shares worth 851 million Singapore dollars. Decliners outnumbered advancers 218 to 154, while 536 stocks did not move.

SIIC Environment Holdings dropped 1.7 percent to 59 Singapore cents. The water treatment and environmental protection company announced that it has entered into a term sheet agreement with Ranhill Water Technologies (Cayman) to acquire a 60 percent stake in Ranhill Water (Hong Kong) for an aggregate consideration of 55.9 million Singapore dollars.

Among the top gainers, Jardine Matheson rose 0.3 percent to 60 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1.3 percent to 41.96 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars)