Shares in Singapore closed lower on Monday, with the benchmark Straits Times Index at 2,925.99, down 0.36 per cent, or 10.49 points.

About 1.34 billion shares exchanged hands.

Losers beat gainers 280 to 164.

Deutsche Bank, said on Monday it had launched an alternative stock trading platform known as a ‘dark pool’ in Hong Kong as part of its drive to grow in Asia.

A ‘dark pool’ exchange allows clients to trade financial instruments without their operations being displayed publicly, which advocates say saves costs and reduces price volatility.

Critics say the off-exchange trading systems reduce transparency, but they have gained significant ground in the United States and Europe and have spread to Asia as well.

Deutsche Bank said it would extend the operation, which it calls an Automated Trading System, to other Asian countries owing to growing demand for the service.

The bank’s operation aims ‘to give our clients the liquidity they need in today’s volatile markets,’ a statement quoted Deutsche Bank equity executive Mark Davis as saying.

‘Dark pools’ first emerged in the United States in 1990, and as their numbers grow, several companies are working to link platforms in various countries

Wilmar announced the acquisition of a Singapore sugar trading company, Windsor & Brook Trading Pte. Ltd. and Indonesian sugar refiner PT Jawamanis Rafinasi.

Olam will invest US$12 million equity in a Special Economic Zone development project in Gabon for a 60% stake in a Joint Venture with the local government.

Capitaland’s Ascott REIT has acquired S$1.39 billon portfolio of Asia and Europe properties from Ascott Ltd

Shayne Heffernan www.livetradingnews.com

Posted by Shayne Heffernan on Aug 23rd, 2010and filed underEquities, Latest News, Markets, News & Events, Singapore.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site