SINGAPORE Dec 16 Singapore shares eased on
Monday as cautious investors fretted over the possible tapering
of U.S. stimulus ahead of a key Federal Reserve meeting on
Tuesday and Wednesday.
The benchmark Straits Times Index was down 0.4
percent at 3,053.72 by 0430 GMT, in line with a 0.5 percent drop
in the MSCI's broadest index of Asia-Pacific shares outside
Shopping mall developer CapitaMalls Asia Ltd and
warehouse operator Global Logistic Properties Ltd were
the worst performers on the index, falling more than 1 percent.
SIA Engineering Co Ltd rose as much as 0.6 percent
to a two-week high of S$4.89 after Maybank Kim Eng set a 'buy'
rating and target price of S$6.34 on the stock.
Maybank maintained its 'overweight' rating on Singapore's
aviation services sector, saying the workload volume of domestic
aviation companies is expected to grow due to expansion plans
"Changi Airport will be embarking on an unprecedented scale
of expansion and we expect this to fuel structurally higher
demand for aviation services," Maybank wrote in a research note.
Shares of Singapore Airlines Ltd rose as much as
0.9 percent to S$10.09 after the airline announced its unit
Scoot Pte Ltd and Nok Airlines Public Co Ltd plan to establish a
low-cost carrier based in Bangkok with an initial investment of
about S$80 million ($63.70 million).
Shares of penny stock Asiasons Capital Ltd fell
4.9 percent to S$0.14 after the company said in a statement its
proposed subscription in September of more than 2 million new
ordinary shares had lapsed.