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Roundup: Singapore stocks end up 0.21 pct

Xinhua, February 13, 2015 Adjust font size:

Singapore shares closed 0.21 percent higher on Friday, as investors expected the People's Bank of China (PBOC) to ease monetary policy further following last week's cut to the reserve requirement ratio.

Meanwhile, a standoff between Greece and its European creditors on its bailout program eased somewhat after Greece agreed to talk to the international lenders.

Singapore's benchmark Straits Times Index rose 7.05 points to 3, 426.22 points. Trading volume was 1.03 billion shares worth 1.21 billion Singapore dollars. Advancers outnumbered decliners 242 to 183, while 511 stocks did not move.

Singapore Airlines inched up 1 percent to 12.15 Singapore dollars. It announced it will reduce its fuel surcharges for tickets issued on or after Feb. 26. Fuel prices have declined in recent months, although jet fuel continues to account for a significant percentage of Singapore Airlines' expenditure. The new fuel surcharge represents a decrease of between 5 U.S. dollars and 83 U.S. dollars per sector, depending on the distance and class of travel.

Amtek Engineering Limited jumped 5.6 percent to 66 Singapore cents. It announced that its first-half revenue was up 46 percent year-on-year to 488.5 million U.S. dollars, while net profit was up 10 percent year-on-year to 15.3 million U.S. dollars. The better result was attributed to the inclusion of one-quarter contribution from the acquired Interplex Industries, but profit was affected by higher financing costs as a result of the acquisition. The growth has been contributed by Interplex and this has generated growth or new customers for Amtek.

Among top gainers, UOB rose 0.7 percent to 23.57 Singapore dollars, while DBS Group became one of the top losers by falling 0. 4 percent to 19.28 Singapore dollars. (1 U.S. dollar equals to 1. 36 Singapore dollars) Endi