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SINGAPORE - Singapore shares ended little changed on Tuesday amid lingering concerns over the global economic outlook and fears about weak US housing sales data due overnight.
The blue-chip Straits Times Index closed 3.14 points lower at 2,922.85, off the day's high of 2,947.64, after a weak opening by European stocks and negative US stock futures erased small gains made in the pre-lunch trading session.
Overall volume traded was 1.45 billion shares worth S$1.38b, with losers outnumbering gainers 276 to 162.
Among the losers, Wilmar International shed some of its gains in the previous sessions to end 1.3% lower at S$6.16 as euphoria over its push into the sugar business subsided.
Wilmar said Monday it will acquire two sugar companies, one each in Indonesia and Singapore, on top of announcing a plan last month to buy Sucrogen, the sugar and renewable energy business of Australia's CSR Ltd.
Among the gainers, telecommunications operators Singapore Telecommunications and StarHub rose after investors saw value in buying the defensive stocks that have fallen significantly in recent sessions.
SingTel, which has fallen 6.4% over the past three weeks, added 1.7% to close at S$2.99 while smaller rival StarHub was up 0.9% at S$2.32. StarHub has declined 2.5% over the same three-week period.
- CNA/ir
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