December 26, 2017 / 10:38 AM / a year ago

SE Asia Stocks-Singapore hits 6-wk closing low on Keppel, Sembcorp

    Dec 26 (Reuters) - Singapore shares fell for a
seventh session in eight on Tuesday, dragged down by stocks of
Keppel Corp and Sembcorp Marine which were
named among foreign companies that did business with people who
are under investigation in Brazil over corruption.
    The Singapore index closed 0.2 percent lower, with 
the biggest drag on the index Keppel Corp Ltd down 2.4 percent. 
    A Keppel Corp unit last week agreed to pay a $422 million
fine to resolve charges that it bribed Brazilian officials,
including some at state-run oil company Petrobras
that has been at the centre of Brazil's largest ever corruption
    "The stock could be under pressure in the near term, we see
this resolution as removing a key overhang on the stock," Nomura
said in a note.
    Earlier, Keppel shares tumbled more than 5 percent to their
lowest in over two months.
    Shares of Sembcorp Marine Ltd, which has also been
identified in the investigation, closed 3.6 percent lower, with
some analysts saying a similar fine would hurt Sembcorp more.

    Earlier, the company said it would sell a semi-submersible
rig that would result in a loss of about S$24 million ($17.85
    Malaysian shares were little changed at the close,
as gains in industrial and consumer staples were offset by
losses in telecommunication stocks.
    Telekom Malaysia Bhd dropped nearly 6 percent, its
worst intraday session since March 2014, while conglomerate Sime
Darby Bhd rose 4.6 percent to its highest in three
    Thailand hit a near 24-year closing high, with
manufacturer Berli Jucker Pcl climbing 2.8 percent to
close at its highest since May 2013.
    Stock markets in the Philippines and Indonesia
 were closed for a local holiday.

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 Change on day                                     
 Market                   Current  previous close  Pct Move
 Singapore                3378.16  3385.71         -0.22
 Bangkok                  1752.48  1750.22         0.13
 Kuala Lumpur             1759.99  1760.24         -0.01
 Ho Chi Minh              965.93   958.31          0.80
 Change so far this year                           
 Market                   Current  End 2016        Pct Move
 Singapore                3378.16  2880.76         17.27
 Bangkok                  1752.48  1542.94         13.58
 Kuala Lumpur             1759.99  1641.73         7.20
 Ho Chi Minh              965.93   664.87          45.28
($1 = 1.3442 Singapore dollars)

 (Reporting by Chandini Monnappa in Bengaluru; Editing by Biju
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