Singapore stocks end down 0.14%

Singapore shares closed 0.14 percent lower on Monday, buoyed by the prospect of further policy stimulus in China and Europe.
European Central Bank President Mario Draghi surprised investors last Friday by declaring his commitment to fighting deflation. That followed an unexpected cut in interest rates in China.
Phillip Securities Research said the local bourse is currently consolidating at resistance at 3,350 points. A successful break out implies a move to 52 week high at 3,380 points and then 3,450 points.
Voyage Research said, "We expect Straits Times Index to resume uptrend this week and may attempt to break 3,400 points level following the better sentiment on economic news from China and Europe."
Singapore's benchmark Straits Times Index fell 4.79 points to 3, 340.53 points. Trading volume was 1.48 billion shares worth 1.07 billion Singapore dollars. Advancers outnumbered decliners 224 to 187, while 531 stocks did not move.
Technics Oil And Gas Limited shed 2 percent to 73 Singapore cents. It has issued a profit warning regarding the financial results for fourth quarter and full year ended September 30, 2014. Based on the preliminary financial figures, the company is expected to report an operating net loss after taking into account the provision of impairment recommended by the auditors.
Viva Industrial Real Estate Investment Trust closed flat at 80 Singapore cents. It places out 20 million new units at 78 Singapore cents per new stapled security to raise gross proceeds of 15.6 million Singapore dollars. The issue price represents a discount of 2.5 percent to the last volume weighted average price. The proceeds will be used to partially repay existing borrowings of the Trust.
Among top gainers, DBS Group Holdings rose 0.4 percent to 19.96 Singapore dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.1 percent to 40.70 Singapore dollars. (1 U.S. dollar equals 1.30 Singapore dollars)