Singapore shares flatline, buoyed slightly by China's PMI

REUTERS - Singapore shares flatlined on Thursday as the United States government shutdown dragged on, but were buoyed slightly by China's services sector performance.

Activity in China's services sector expanded at the fastest pace in six months in September as demand grew, with China's official purchasing managers' index (PMI) for the non-manufacturing sector clocking its highest reading since March.

The benchmark Straits Times Index was almost unchanged, edging lower by 0.05 per cent to 3,150.8, while MSCI's broadest index of Asia-Pacific shares outside Japan was 0.9 per cent higher.

Some of the biggest gainers on the index include DBS Group Holdings, which rose 1.1 per cent to $16.31, rebounding after a 1.8 per cent drop the previous day. Singapore Airlines shares also rose 1.1 per cent to $10.30, up for a second day in the row.

In other stocks, Blumont Group fell for a third day, easing 0.8 per cent to $2.37 per share. The company's stock was among the top-traded by value with 10.8 million shares changing hands, about 77 per cent of its 30-day average full-day volume.

Investment company Asiasons Capital dropped 1.8 per cent to $2.73. About 8 million shares were traded, almost 1.1 times the average full-day volume over the past 30 days.

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