Off the wire
Avalanche kills man in Indian-controlled Kashmir  • China welcomes mediation efforts in solving Ukraine crisis  • Cheaper oil has limited impact on lifting Chinese economy: Moody's  • China Focus: Silk Road initiatives to boost China-EU ties  • France to close embassy in Yemen over security concerns  • Over 500 Boko Haram combatants killed by Nigerien army  • News Analysis: Boycott of Israeli products bears more than economic influence  • Top Chinese procuratorate exposes science related corruption  • 1st LD-Writethru-China Focus: China holds Maritime Silk Road seminar  • Turkey arrests 14 trying to enter Syria to join IS  
You are here:   Home

Roundup: Singapore stocks end up 0.3 pct

Xinhua, February 11, 2015 Adjust font size:

Singapore shares closed 0.3 percent higher on Wednesday.

Voyage Research said "we expect the Straits Times Index will trend upward to attempt to break the 3,450 points resistant level. "

The benchmark Straits Times Index rose 10.33 points to close at 3,444.57 points. Trading volume was 1.09 billion shares worth 974 million Singapore dollars. Decliners outnumbered advancers 247 to 184, while 509 stocks closed unchanged.

Oversea-Chinese Banking Corporation closed flat at 10.60 Singapore dollars. The Singapore's second-biggest lender reported fourth-quarter net profit rose 11 percent to 791 million Singapore dollars on back of strong loan growth and fee income.

But its operating expenses rose 29 percent from a year earlier, while provisions for soured loans and other assets also doubled, in part due to the consolidation of Wing Hang Bank in Hong Kong. Its full-year net profit came at 715 million Singapore dollars.

China Fishery Group slumped 28.5 percent to 18.6 Singapore cents. It proposed to undertake a Rights Issue of up to 1.71 billion new shares on the basis of four rights shares for every five existing shares held.

The rights shares will be priced at 17.3 Singapore cents each, which represents a discount of approximately 33.5 percent to the last closing price.

The company intends to utilize the net proceeds of the rights issue, together with other funding of the Group, to fund the redemption of the 250 million U.S. dollars notes due 2017 issued by the Copeinca Group.

Among the top gainers, Jardine Cycle and Carriage rose 0.3 percent to 42.05 Singapore dollars, while Jardine Matheson shed 0. 1 percent to 66.16 U.S. dollars. (1 U.S. dollar equals 1.36 Singapore dollars) Endi