Singapore stocks end almost flat

Singapore shares closed 0.03 percent lower on Tuesday, following weaker close in Wall Street on Monday. U.S. markets closed lower after reports showing a pickup in the manufacturing sector increased fears that the Federal Reserve could start to roll back its bond-buying program. The central bank 's stimulus has been a significant driver of markets this year. DBS Group Research said "we maintain our view for Straits Times Index 3,150 points to hold intact in the current year-end lull with upside bias towards 3,290 points." The benchmark Straits Times Index fell 1.09 points to close at 3,187.67 points. Trading volume was 1.39 billion shares worth 852 million Singapore dollars. Decliners outnumbered advancers 237 to 166, while 548 stocks closed unchanged. Tritech Group fell 1.4 percent to 34.5 Singapore cents. It has been awarded a 7.8 million Singapore dollars instrumentation contract by the Land Transport Authority of Singapore. SembCorp Industries dropped 0.6 percent to 5.40 Singapore dollars. It commences commercial operations of its new multi- utilities center worth 154 million Singapore dollars located in the island's Banyan district. With the addition of this new facility, Sembcorp now offers companies located in Jurong Island's Banyan, Tembusu and Angsana areas a comprehensive range of energy, water and on-site logistics. Liongold Corporation shed 4.5 percent to 16.8 Singapore cents. Together with a subsidiary of associated firm ISR Capital and Chinese firm Suzhou Power, it established a new private equity fund that invests in natural resources. The fund, which was named IPR LP, hopes to achieve medium to long-term capital appreciation through direct investments in mining projects, together with related energy and power investments. Among the top gainers, Jardine Matheson rose 4.3 percent to 54. 40 U.S. dollars, while OCBC Bank became one of the top losers by falling 1.1 percent to 10.35 Singapore dollars. (1 U.S. dollar equals to 1.26 Singapore dollars)