Keppel buys back 500,000 shares

KEPPEL Corp has bought back 500,000 shares as the counter stays at three-year lows.

The group repurchased the shares at prices between S$8.31 and S$8.39 apiece, paying a total of S$4.2 million for them.

The 500,000 shares represent 0.0275 per cent of the company's issued shares.

The counter had risen 15 cents, or 1.83 per cent, on Wednesday.

Oil and gas-related stocks like Keppel Corp, Sembcorp Marine, Ezra and Ezion have been hit by weakening oil prices, and could be affected further as Brent crude oil fell below US$65 a barrel on Wednesday.

Read all the latest news and analysis on oil prices here: Oil Rout