06 Jun '11, 10am

Singapore shares end lower in thin trade

SINGAPORE - Singapore share prices ended one percent lower in thin trade on Monday, in line with their Asian peers as markets were pressured by last week's disappointing US job data. The US economy added just 54,000 jobs in May, raising concerns about the strength of the global economic recovery. Singapore's blue-chip Straits Times Index lost 31.94 points to end at 3,113.73. Overall volume traded was 979.4 million shares worth S$967 million. Losers overwhelmed gainers 329 to 92. Among the losers, Neptune Orient Lines fell 3.4% to S$1.73 on worries that a slowing global economy would hurt global trade. Shares of economic-sensitive stocks such as banks and rig builders also fell. Among banks, United Overseas Bank shed 1.4% to S$19.20, while OCBC was down 1.3% at S$9.32. DBS fell 0.9% at S$14.76. Concerns that a slowing economy will also curb demand for new ships and rigs saw...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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