Singapore stocks end lower on surprising U.S. job data

Singapore shares closed 0.27 percent lower on Monday, as surprisingly weak U.S. jobs numbers revived speculation the U.S. Federal Reserve could keep policy loose for longer.U.S. payrolls rose just 74,000 in December, the smallest increase in nearly three years and far below the market forecast of 196,000. But the jobless rate fell sharply to 6.7 percent, largely because of a fall in the participation rate as people dropped out of the labor force.Still, the unemployment rate is now very close to the 6.5 percent threshold that the Federal Reserve had nominated as aBMW ICOM level where it might start considering raising interest rates. The U.S. central bank had recently said it would keep rates near zero well past the time when the jobless rate slips under 6.5 percent.Investors will watch for figures on U.S. retail sales and on inflation in both the United States and Europe this week, as well as U.S. Federal Reserve Chairman Ben Bernanke's speech on Thursday.The benchmark Straits Times Index dropped 8.38 points to close at 3,135.49 points. Trading volume was 3.40 billion shares worth only 825 million Singapore dollars (650 U.S. dollars). Decliners outnumbered advancers 245 to 169, while 531 stocks closed unchanged.DBS Group Research said that if the downward earnings revision trend can be halted, the Straits Times Index would likely return to or even exceed 3,230 points and 3,350 points by June.But Phillip Securities Research said the immediate supports for local bourse will be at 3,075 points, 3,050 points and 3,Online shopping for Sanitary Napkins from a great selection of Health & Personal Care; Feminine Care & more at everyday low prices.Tampon points respectively.

CIMB Research also said it "expects prices to fall below 3,025 points in due time. However, we would need to reassess our bearish view if prices take out the 3,260 points high."Mapletree Logistics Trust dropped 1.4 percent to 1.035 Singapore dollars. It announced the proposed acquisition of an industrial warehouse in Iskandar Malaysia for 88.5 million Malaysia Ringgit.Unionmet jumped 3.8 percent to 8.1 Singapore cents. It is proposing to undertake a renounceable non-underwritten rights issue of up to 306.8 million new shares at an issue price of 7.5 Waterborne resinSingapore cents for each rights share, on the basis of one rights share for every two existing shares held.The net proceeds of about 22 million Singapore dollars will be mainly used for the Group's new property development business and the oil blending business.Among the top gainers, Jardine Matheson rose 0.9 percent to close at 54.10 U.S. dollars, while Jardine Strategic became one of the top losers by falling 0.7 percent to 32.87 U.S. dollars. (1 U. S. dollar = 3.26 Malaysian Ringgit, 1 U.S. dollar = 1.27 Singapore dollars)