Roundup: Singapore stocks end down 0.07 pct

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SINGAPORE, April 6 (Xinhua) -- Singapore shares closed 0.07 percent lower on Tuesday, as a modest drop in U.S. market futures prompted investors to take profit.

U.S. markets closed at fresh all-time highs on Monday after Treasury Secretary Janet Yellen said the job market will become far more robust in months ahead. She also shrugged off concerns of inflationary pressures arising from President Joe Biden's infrastructure plan.

Meanwhile, crude oil prices dropped in Asia on a decision by major oil producers to pump additional crude oil in May and June.

MayBank-Kim Eng Retail Research said, "Technically, the overbought Straits Times Index is inching towards its next resistance at 3,230 points, while near-term support level lies at around 3,000 points area."

Singapore's benchmark Straits Times Index inched down 2.11 points to 3,207.63 points. The trading volume was 1.98 billion shares worth 1.22 billion Singapore dollars. Advancers outnumbered decliners 206 to 173.

Among top actives, Rex International fell 5.08 percent to 18.7 Singapore cents. Its subsidiary, Masirah Oil (MOL), has completed drilling three exploration prospects that were located near the Yumna Field, offshore in the Arabian Sea. The exploration wells were drilled for about 3.5 million U.S. dollars each, equivalent to less than 1,700 U.S. dollars per meter.

This will help MOL to further de-risk additional exploration prospects, thus enabling it to continue to pursue an active exploration program in an oil block off Oman. Meanwhile, MOL has upgraded the liquid capacity of its production facilities to 30,000 barrels per day to cater to the increased production from the three Yumna production wells.

Among top gainers, Venture Corporation rose 0.94 percent to 20.4 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.74 percent to 66.07 U.S. dollars. (1 U.S. dollar equals 1.34 Singapore dollars). Enditem

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