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  • Oct 28th, 2005
  • Comments Off on Singapore shares close 1.21 percent lower
Singapore share prices closed 1.21 percent lower on Thursday on profit-taking after some companies reported strong results, dealers said. The Straits Times Index fell 26.89 points to 2,201.90.

Total volume traded totalled 950 million shares worth 911 million Singapore dollars (542 million US), up from 859 million shares worth 765 million dollars on Wednesday.

There were 107 rising issues, 426 losers and 591 issues were even.

Investors were also taking profit ahead of next week due to two public holidays, dealers said. The market will be closed on Tuesday and Thursday.

"Some investors are selling ahead of the holidays. People also don't want to buy ahead of the holidays," said a dealer from a local brokerage.

"That's why trading volume is thin."

Among the blue chips, Singapore Telecommunications dropped two cents to 2.36, Singapore Press Holdings also by the same amount to 4.44 and ST Engineering added three cents to 2.55.

Singapore Airlines was down 20 cents to 11.20 and telecommunications operator StarHub fell three cents to 1.91.

For the property sector, CapitaLand tumbled 14 cents to 3.08, City Developments dropped 20 cents to 8.60 and Keppel Land fell 10 cents to 3.68.

In the bank sector, DBS fell 30 cents to 15.30, United Overseas Bank dropped 10 cents to 13.60 and Oversea-Chinese Banking Corp eased 10 cents to 6.15.

Copyright Agence France-Presse, 2005


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