SINGAPORE, Aug. 17 (Xinhua) -- Singapore shares closed 0.08 percent lower on Friday, as cautious investors shrugged off news that U.S. and China will resume lower level trade talks later this month.
Maybank-Kim Eng Retail Research said technically, the Straits Times Index is oversold and may find support at 3,200 points level with immediate resistance at 3,240 points and then 3,300 points.
Singapore's benchmark Straits Times Index inched down 2.49 points to 3,209.44 points. Trading volume was 992 million shares worth 985 million Singapore dollars. Advancers outnumbered decliners 193 to 185.
Yanlord Land fell 2 percent to 1.48 Singapore dollars. It established a new business, Nantong Yanlord Intelligent Construction Hi-Tech Corporation in Nantong, China. The new entity will engage in construction engineering and related services.
City Development Limited rose 0.5 percent to 9.59 Singapore dollars. It kicked off its share buyback with inaugural purchase of 300,000 shares in the open market at 9.485 Singapore dollars apiece. This forms 0.033 percent of its total issued shares.
Among top gainers, Venture Corporation rose 2.4 percent to 17.87 Singapore dollars, whereas Jardine Matheson was one of the top losers by falling 1.3 percent to 64.91 U.S. dollars. (1 U.S. dollar equals to 1.37 Singapore dollars)
