Singapore shares closed 0.19 percent lower on Thursday, as uncertainty over global growth outlook weighed on the market sentiment.
Singapore's benchmark fell 5.26 points to 2,767.81 points. Trading volume was 986 million shares worth 1 billion Singapore dollars. Decliners slightly outnumbered advancers 177 to 172, while 566 stocks did not move.
iFAST shed 0.8 percent to 1.20 Singapore dollars. It has formed a joint-venture Company with PC International. PC International is incorporated in Hong Kong and is an affiliated company of Paochu Investment Advisory Limited and PC Securities Limited.
The incorporation of the joint venture company will enable iFAST to increase business from offshore customers who wish to invest in the investment products distributed on its Singapore platforms.
SembCorp Industries rose 3.3 percent to 2.84 Singapore dollars. It reported a 25 percent decline in earnings to 107 million Singapore dollars for first quarter, dragged down by weaker gross profit amid the oil rout.
It expected a more protracted down-cycle in the oil-and-gas industry, compared to previous cycles. Its finance costs more than doubled to 86.2 million Singapore dollars from 31.2 million Singapore dollars, which was mainly due to its utilities business in India, which became operational in the second quarter of 2015, as well as higher bank borrowings for its marine business.
Among the top gainers, Jardine Matheson rose 1.2 percent to 55.70 U.S. dollars, whereas DBS Group became one of the top losers by falling 2.2 percent to 15.01 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars)