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STOCKS NEWS SINGAPORE-Index flat, rigbuilders weigh

Source : REUTERS
Last Updated: Tue, Mar 26, 2013 03:40 hrs

Singapore shares were little changed with the world's two largest rigbuilders, Keppel Corp Ltd and Sembcorp Marine Ltd, extending their losses.

The Straits Times Index was flat, while the MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent.

Keppel Corp was the most actively traded stock by value in the Singapore market on Tuesday. Shares of the world's largest oil rig builder fell as much as 1 percent to a two-month low of S$11.22, making it one of the worst performers on the index. About 3.9 million shares were traded, matching the average full-day volume traded over the past 30 days.

Keppel's rival Sembcorp Marine also underperformed the market. Sembcorp Marine shed as much as 1.6 percent to S$4.40, the lowest in a month.

"The drop in share prices could be seen as the profit-taking phase for the offshore and marine sector," a trader said.

1120(0320 GMT)

(teo.jionchun@thomsonreuters.com)(+6564035659)(Reuters Messaging: teo.jionchun.thomsonreuters.com@reuters.net)




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