SINGAPORE, Dec. 15 (Xinhua) -- Singapore shares closed 0.05 percent on Tuesday, as profit taking emerged after the government had announced the relaxation of social restrictions on Monday evening.
Singapore's Prime Minister Lee Hsien Loong announced on Monday that Singapore will enter its Phase three of reopening on December 28, as the number of coronavirus cases continued to fall in the country. Social gatherings of up to eight people will be allowed in public, up from five currently.
Meanwhile, crude oil prices dropped on demand worries due to tighter lockdowns in Europe outweighing relief from vaccination rollouts and concerns about a flare-up of tension in the Middle East. A fuel transport ship at the Saudi Arabian port of Jeddah was hit by an explosion on Monday, which the Saudis claimed a terrorist attack.
MayBank-Kim Eng Retail Research said "technically, the Straits Times Index remains range bound with an upside bias. Overhead resistance lies at the 2,892 points breakdown gap, while near-term support at 2,793 points level."
Singapore's benchmark Straits Times Index inched down 1.42 points to 2,856.72 points. Trading volume was 2.18 billion shares worth 1.37 billion Singapore dollars. Decliners outnumbered advancers 248 to 189.
SIIC Environment fell 2.25 percent to 17.4 Singapore cents. Its indirectly-owned subsidiary, Heilongjiang Bolan, has been awarded a 10,000 tonnes wastewater treatment plant (WWTP) project in China's Heilongjiang province at a service fee of 3.01 million Chinese yuan. The operation and maintenance period will last for eight years and the discharge standard as Class I Standard A. Meanwhile, it also signed a supplementary agreement with the Bureau of Housing and Urban-Rural Development of Yuyao City for the expansion of a WWTP Project in China's Zhejiang province to 250,000 tonnes, and the water tariff will increase from 0.923 Chinese yuan per tonne to 1.421 Chinese yuan per tonne.
Among top gainers, Jardine Strategic rose 2.36 percent to 26.44 U.S. dollars, while Venture Corporation became one of the top losers by falling 1.21 percent to 18.72 Singapore dollars. (1 U.S. dollar equals 6.544 Chinese yuan, or 1.33 Singapore dollars)