Arab Today, arab today singapore stocks end up 014
Last Updated : GMT 21:30:17
Arab Today, arab today
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Singapore stocks end up 0.14%

Arab Today, arab today

Arab Today, arab today Singapore stocks end up 0.14%

Singapore shares closed
Singapore - XINHUA

Singapore shares closed 0.14 percent higher on Monday, as European Central Bank (ECB) President Mario Draghi said the bank was prepared to respond with all its " available" tools should inflation drop further.
Data due out on this Friday are expected to show annual inflation of Euro-zone slowed to just 0.3 percent in August from 0. 4 percent in July, further distant from the ECB's target of nearer 2 percent.
The benchmark Straits Times Index rose 4.78 points to close at 3,330.28 points. Trading volume was 1.34 billion shares worth 808 million Singapore dollars. Decliners outnumbered advancers 221 to 198, while 527 stocks closed unchanged.
DBS Group Research said the Straits Times Index will find support at 3,250 points on a pullback, and could head towards 3, 500 points in the event that earnings revision trend turns positive in subsequent quarters.
Voyage Research said "the overall traded value remained low if we exclude trades from companies that may undergo merges and acquisitions. We reckon that the local market will range bound between 3,300 points and 3,350 points this week."
Among top actives, Otto Marine Limited rose 2.8 percent to 7.3 Singapore cents. It said it is currently exploring available strategic options to facilitate the expansion of its subsea operations business. Options include potential listing of unit, Surf Subsea Private Limited, on the Singapore Exchange. It added exploration of any strategic options to achieve the subsea expansion is in its preliminary stages.
Jasper Investments sank 50 percent to 1.4 Singapore cents. It warned of the potential breach of financial obligations under the five-year 165 million U.S. dollars senior secured bonds issued by its subsidiary Jasper Explorer. The breach could happen as soon as Aug.31 as Jasper Explorer had failed to secure bondholders' approval for waivers and relief of its financial obligations. In the event of a breach of obligations, the bonds will be declared to be in default.
STATS ChipPAC inched up 0.8 percent to 61 Singapore cents. Moody's Investors Service downgraded corporate family rating and senior unsecured debt rating to Ba2 from Ba1. The credit-rating agency said that the outlook is stable, but added that the chipmaker's final rating of Ba2 benefits from a one-notch uplift due to expected support from its ultimate holding company, Temasek Holdings, in the event of stress.
Among the top gainers, Jardine Strategic rose 0.7 percent to 60. 24 U.S. dollars, whereas OCBC Bank became one of the top losers by falling 4 percent to 9.99 Singapore dollars. (1 U.S. dollar equals to 1.25 Singapore dollars)

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