Friday 19 Apr 2024
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SINGAPORE (Nov 26): Singapore shares opened lower in reaction to a flat session on Wall Street overnight.

Interest in oil and gas plays was subdued ahead of a key OPEC meeting tomorrow in Vienna, where oil producers will discuss whether to cut production to shore up prices.

At 10:34am (0234 GMT), market breadth was neutral while the Straits Times Index was 0.2% lower at 3,337.48.

Among oil-related plays, Sembcorp Marine fell 0.9% to $3.31, Keppel Corp declined 0.9% to $9.22 and Ezion Holdings retreated 0.7% to $1.46.

Sapphire Corp rose 6.4% to 13.3 cents, extending its 25% gain yesterday, as investors continued to cheer the company's proposed $75.9-million acquisition of Ranken Infrastructure, a railway infrastructure builder in China with an order book of RMB2.1 billion ($420 million).

Yuuzou Corp gained 8.2% to 59.5 cents in active trade. It went as high as 62.5 cents earlier, prompting the Singapore Exchange to query the board on the sharp price movement.

IHH Healthcare climbed 0.8% to $1.905 after the company said its 3Q2014 earnings rose 26% y-o-y to MYR146.9 million ($57 million) on higher revenue, which increased 7% to MYR1.78 billion, and lower finance costs.

 

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