Singapore shares ended 0.9% lower on Wednesday, as investors booked profits from a short-lived rally against a backdrop of uncertainty over the US fiscal impasse that has led to a partial shutdown of the federal government. The benchmark index eventually closed 28.92 points lower at 3,152.58, wiping out Tuesday's 0.4% gain. Here are some stocks and factors that could affect the market today:
Singapore's manufacturing sector held at 50.5 for a second month in September, driven by new orders and new export orders along with a higher production output, the Singapore Institute of Purchasing & Materials Management (SIPMM) said on Wednesday.
Singapore Exchange (SGX) said trading and clearing volumes in September increased from a year earlier. Total securities turnover was $30.3 billion, up 6% year-on-year. Securities daily average
value (SDAV) was up 1% to S$1.4 billion. The difference in quantum increase is due to one more trading day in September 2013 compared to a year earlier. Catalist turnover increased 5 times year-on-year to $2.9 billion.
Vallianz Holdings, the offshore marine solutions provider, said it has entered into a subscription agreement with Rawabi, a leading Saudi Arabian oil and gas service company, and an option agreement with Swiber. Under the subscription agreement, Rawabi will subscribe for redeemable convertible capital securities issued by Vallianz for a principal amount of US$35.2 million. Under the option agreement, Swiber will be issued an aggregate of 500,000,000 non-transferable share options, which could raise gross proceeds of $27.5 million, assuming that all options are exercised.
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