Roundup: Singapore stocks end up 0.42 pct

December 30, 2014 1:22 am 

SINGAPORE, Dec. 29 — Singapore shares closed 0.42 percent higher on Monday, buoyed by rise in Wall Street and announcement from People's Bank of China last week.

The People's Bank of China (PBOC) told bank representatives last week that it would allow them to include more money in their deposit bases, giving them additional room to lend. Nomura Global Research described the action is "indicative of the PBOC's loosening bias."

U.S. shares continued to rise last Friday amid thin volume after the U.S. Federal Reserve said it would be "patient" on raising benchmark U.S. interest rates.

Meanwhile, U.S. crude oil rebounded on renewed tensions in Libya. A fire caused by fighting at one of Libya's main export terminals has destroyed more than two days of the country's oil production, as clashes escalated between factions battling for control of the country.

Voyage Research said with the Straits Times Index now broke through 3,350 points, it will continue to rise moderately from this level to 3,380 points, mostly due to the better sentiment in Asia markets.

Singapore's benchmark Straits Times Index rose 14.01 points to 3,367.69 points. Trading volume was 891 million shares worth 580 million Singapore dollars. Advancers outnumbered decliners 228 to 172, while 540 stocks did not move.

Ntegrator International Limited closed flat at 2.7 Singapore cents. It said all the parties to the suit have entered into a settlement agreement related to the writ of summons issued by Menton Technologies Private Limited at the high court of Singapore. The settlement agreement was entered into without any admission of liability, and the terms of settlement agreement are not expected to have material impact on financial results for year ending Dec. 31 this year.

Keppel Corporation Limited rose 1.1 percent to 8.85 Singapore dollars. It announced that it has won a contract worth over 100 million U.S. dollars. This is to build one of the world's largest land drilling rig for a major operator which will be completed in the middle of 2016. The rig will be capable of operating in harsh conditions.

Among top gainers, Jardine Strategic rose 0.9 percent to 34.29 U.S. dollars, while Singapore Airlines became one of the top losers by falling 0.7 percent to 11.59 Singapore dollars. (1 U.S. dollar equals to 1.32 Singapore dollars). (PNA/Xinhua)

LAP/SSC

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