SINGAPORE (July 7): Singapore stocks closed lower for the second consecutive session -- with a break in between -- thanks to a broader lack of direction across Asia and losses in some commodity and offshore marine names.

At 5.04pm, the key Straits Times Index is down 0.09% or 2.5 points to 2,862.27. About 1.6 billion shares valued at nearly $1.2 billion changed hands in the broader market. There were 202 losers against 188 gainers.

Among the large caps, SATS was the biggest gainer, closing 2.1% higher at $4.30. Thaibev was next, closing 1.6% higher at 95.5 cents. Golden Agri-Resources was the biggest loser,  closing 2.8% lower at 35 cents followed by UOB and Hongkong Land which slid 1.6% and 1.5% respectively.

Nordic Group closed 4.3% higher at 24 cents after annouci wholly-owned subsidiaries have recently clinched several contracts worth a total of $4.2 million. The contracts were secured with repeat customers, comprising multinational companies (MNCs) and companies in the marine, oil & gas and process industries. Shares of Nordic last closed at 24 cents.

SIIC Environment closed flat at 64 cents after announcing that it has enlarged its stake in a Chinese firm. This follows the environmental engineering company’s Tuesday night announcement of an additional equity stake it has taken in a Chinese company.

Noble Group closed 10.2% to 18 cents after surging a day earlier on short covering. One likely explanation for the volatility is short covering. Noble has been one of Asia’s most shorted stocks in the last year or so as it battles downgrades in ratings and tries to shore up its balance sheet.