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Roundup: Singapore stocks end up 1.42 pct following rebound in Wall Street

Xinhua, January 8, 2015 Adjust font size:

Singapore shares closed 1.42 percent higher on Thursday, buoyed by upbeat U.S. employment data and a halt to a slide in oil price.

Wall Street rebounded on Wednesday from five straight sessions of losses after strong U.S. private sector jobs data underscored strength in the world's largest economy and raised hopes for a strong reading of the non-farm payrolls due on Friday.

Meanwhile, oil price extended overnight gains in Asian trade Thursday, after snapping a four-session losing streak. February Brent crude rose to above 51 U.S. dollars a barrel. It dropped below the 50 U.S. dollar mark on Wednesday but recovered above it to break a four-session losing streak, indicating that this level may provide support for Brent crude.

The benchmark Straits Times Index rose 46.75 points to close at 3,345.11 points. Trading volume was 1.41 billion shares worth 1.15 billion Singapore dollars. Advancers outnumbered decliners 254 to 131, while 555 stocks closed unchanged.

Voyage Research said "we maintain our expectations that the Straits Times Index should test its resistance at the 3,400 points level for this week."

TRIYARDS Holdings jumped 8.3 percent to 1.3 Singapore cents. It has secured 75.4 million U.S. dollars in new lift-boat orders. The latest lift-boat contracts not only add to its order-book, but also extend TRIYARDS' earnings visibility into its financial year ending Aug. 31, 2016. The Group's current new-build pipeline has grown to eight lift-boats, having won five new orders in the last six months. The Group also reported its financial results for the first three months ended Nov. 30, 2014. Turnover came in at 56.7 million U.S. dollars, supported by ongoing lift-boat projects as well as revenue from an offshore fabrication project and maiden contribution of aluminum shipbuilder Strategic Marine Group.

Global Logistic Properties Limited rose 1.7 percent to 2.46 Singapore dollars. It announced that it has signed four new leases in Greater Tokyo. This is for a total of 70,000 square meters of space. The customers include industry leading retailers and a third party logistics provider. The space is used to support domestic distribution needs for retail stores and e-commerce.

Among the top gainers, UOB rose 2.5 percent to 24.02 Singapore dollars, whereas CapitaMall Trust became one of the top losers by falling 2.4 percent to 2.03 Singapore dollars. (1 U.S. dollar equals to 1.34 Singapore dollars) Endi