Singapore Shares Little Changed; SATS, CityDev up 2%

MT Newswires12-17

Singapore shares ended flat in negative territory on Wednesday, with mixed US jobs data doing little to boost expectations for another interest rate cut by the US Federal Reserve.

The Straits Times Index ranged between 4,545.77 and 4,580.11 throughout the day. It ended the session little changed at 4,575.48.

In economic news, Singapore's non-oil domestic exports or NODX grew 11.6% year over year in November, moderating from a 21.7% increase in the previous month.

In corporate news, shares of OUE Healthcare (SGX:5WA) surged nearly 12% as OUE (SGX:LJ3) agreed to acquire a 19.3% stake in it from Browny Healthcare for SG$20.7 million.

Samudera Shipping Line's (SGX:S56) shares were up nearly 3% as its subsidiary, Samudera Japan, agreed to establish a joint venture named Blue Ocean Shipping with Imoto Corp. to facilitate shipping activities in Japan.

Meanwhile, shares of Jardine Cycle & Carriage (SGX:C07) were up under 1% at the close as its subsidiary, Platinum Victory, agreed to sell a 4.60% stake in Vietnam-listed Vinamilk (HOSE:VNM) to F&N Dairy Investments for around 6.01 billion dongs.

STI fell 0.1%; SATS, CityDev up 2%; UOL, SIA Engineering, YZJ Shipbldg up 1%.

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