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Singapore stocks begin week on softer note

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SINGAPORE stocks ended Monday on a broadly weaker note, amid waves of late afternoon selling. Read more at The Business Times.

At the other end of the spectrum, the best performers for the day were CapitaLand Commercial Trust and CapitaLand Mall Trust , which are due to seek unitholder approval for their merger plans later this month. The managers of the two Reits have said the merger will enable them to better pursue growth initiatives.Elsewhere, Sembcorp Industries edged 0.85 per cent higher to close at S$1.19.

On the other hand, Sembmarine - which has just completed a five-for-one rights issue of new shares priced at S$0.20 - continued sinking. It ended Monday 0.61 per cent down at S$0.162, but traded at as low as S$0.157 during the day. Meanwhile, markets across the region were generally firmer, amid growing anticipation among analysts that correction in the S&P500, which has fallen nearly 7 per cent since Sept 2, could be coming to an end.

Benchmark indices for Tokyo, Shanghai, Seoul, Hong Kong, Kuala Lumpur and Jakarta ended the day in positive territory.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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