Singapore shares came off two-week highs to end lower on Tuesday, led by ST Assembly Test Services after the firm said it planned to buy a US-based competitor, ChipPAC Inc.
The key Straits Times index (STI) finished down 0.82 percent, or 15.52 points, at 1,872.68 in line with declines in key Asian stock markets such as Japan and Hong Kong.
The STI had ended at 1,888.20 - its highest closing level since January 27 - in the previous trading session. Analysts said they saw further upside for Singapore equities due to improved economic conditions and as companies had so far reported results that largely met expectations.
Singapore state-controlled ST Assembly Test Services said on Tuesday it would buy a US-based ChipPAC in an all stock deal valued at about US $1.2 billion to create the world's second-largest chip tester.
ST Assembly saw active trade after the group resumed trading at 0830 GMT. It shares sank 13.54 percent to S$1.98 on a turnover of 41 million shares due to dilution concerns, dealers said.
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