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Singapore shares little changed in thin trading
May 20, 2014 / 4:57 AM / 4 years ago

Singapore shares little changed in thin trading

SINGAPORE, May 20 (Reuters) - Singapore stocks were little changed in thin trading on Tuesday, reflecting sentiment in the broader Asian market, as investors chose to remain on the sidelines in the absence of any major catalyst.

The benchmark Straits Times Index was almost flat at 3,263.66 by 0422 GMT, while MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.08 percent.

Analysts said investors refrained from taking additional positions following the first-quarter earnings season, though CIMB analyst Kuan Yee singled out transport operators SMRT Ltd and ComfortDelGro Ltd as stocks to watch amid talks of a review of rail financing as the Singapore parliament convenes.

Shares of ComfortDelGro were up 0.9 percent at S$2.33, while SMRT added 4.1 percent at S$1.39. ComfortDelGro and SMRT have gained 10 percent and 13.5 percent, respectively, this month against the Singapore index’s 0.1 percent loss.

Losses were led by Wilmar International Ltd, which erased the previous day’s gain to fall 1.24 percent to an intra-day low of S$3.19.

Wilmar and its partner First Pacific Co Ltd said on Friday their bid for a joint takeover of Australian bread and dairy company Goodman Fielder Ltd had been recommended by Goodman’s board of directors. (Reporting by Andrew Toh; Editing by Subhranshu Sahu)

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