SINGAPORE, July 5 (Xinhua) -- Singapore shares closed 0.21 percent lower on Tuesday, as investors looked for direction from the Wall Street after Independence Day Holiday.
Trading was thin as financial and commodities markets in the U.S. closed overnight for Independence Day. Oil prices retreated in Asian trading amid concerns that demand will weaken in the backdrop of weak global economic outlook.
DBS Group Research said "we peg short-term support between 2,700 points and 2,730 points. Short-term resistance is between 2,860 points and 2,900 points."
Singapore's benchmark Straits Times Index fell 5.89 points to 2,864.67 points. Trading volume was 1.57 billion shares worth 951 million Singapore dollars. Decliners outnumbered advancers 219 to 162, while 525 stocks did not move.
Among top actives, CNMC Goldmine Holdings jumped 7.1 percent to 52.5 Singapore cents. It announced its Sokor Gold Project has produced a record quarterly production of fine gold for the period ended 30 June 2016. CNMC said it produced in the quarter some 9,807.37 ounces of fine gold - gold bars that are refined to the purity of 99.99 percent.
Mapletree Commercial Trust fell 3.3 percent to 1.46 Singapore dollars. It is acquiring Mapletree Business City (Phase 1), one of the largest integrated office and business park complexes in Singapore, from sponsor Mapletree Investments. The total acquisition cost is expected to be 1.86 billion Singapore dollars.
The acquisition is expected to contribute a Net Property Income (NPI) yield of 5.6 percent without any income support, which is higher than the existing portfolio's NPI yield of 5.1 percent.
Among the top gainers, Singapore Airlines rose 1.2 percent to 10.73 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.4 percent to 57.60 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars)
