Singapore shares 0.3% lower at midday; Keppel Corp ends 7 days of falls
REUTERS - Shares of Singapore's Keppel Corporation snapped a seven-day losing streak after the world's top jack-up rig builder announced a contract win that boosted hopes the rig ordering cycle would continue, outstripping a slight fall in Singapore's benchmark index.
Keppel shares rose as much as 1.2 per cent to $10.49, pulling away from a near one-month low of $10.30 hit on Tuesday.
The Straits Times Index edged down 0.3 per cent, in line with the MSCI's broadest index of shares outside Japan, which was down 0.1 per cent.
The company won an order for two jack-up drilling rigs, worth US$440 million (S$552 million), from an affiliate of Clearwater Capital Partners, pushing the total year-to-date order wins to $4.8 billion.