Singapore index extends falls; UOB shares hit 1-month low

SINGAPORE, April 29 Tue Apr 29, 2014 1:01am EDT

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SINGAPORE, April 29 (Reuters) - Singapore shares fell for a third straight session on Tuesday, dragged down by losses in United Overseas Bank Ltd and Wilmar International Ltd , while the broader Asian market edged down on heightening tensions in Ukraine.

The benchmark Straits Times Index was down 0.4 percent at 3,230.39 by 0427 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent.

UOB led losses on the index, plunging 3.6 percent to a one-month low of S$21.3 after reaching its ex-dividend date, prompting a sell-off from investors.

The other two banks fared slightly better, with OCBC Ltd inching up 0.2 percent and DBS Ltd adding 0.4 percent.

Shares of Wilmar stretched losses into a second day, falling 2.3 percent after Australian company Goodman Fielder rejected its takeover bid.

Among other stocks, Jardine Cycle & Carriage shares also suffered heavy losses, dipping 3.4 percent to hit a 2-1/2 week low of S$45.9.

Shipbuilder VARD Holdings Ltd dropped more than 4 percent, on course for its steepest one-day decline since last June, after the company reported a 51-percent slump in its first-quarter net profit. (Reporting by Andrew Toh; Editing by Anand Basu)

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