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Roundup: Singapore stocks end up 0.54 pct

Xinhua, March 3, 2015 Adjust font size:

Singapore shares closed 0.54 percent higher on Tuesday, bolstered by another record close on Wall Street overnight.

The Dow Jones industrial average closed fresh record high on Monday, while the Nasdaq Composite broke 5,000 points for the first time in 15 years.

The fall in U.S. consumer spending and slower factory activity raised expectation that the U.S. Federal Reserve will raise interest rates in September and not in June.

Investors will watch closely Friday's U.S. jobs report for February. A strong reading is likely to heighten expectations that the Federal Reserve will opt to hike interest rates by the middle of this year.

Singapore's benchmark Straits Times Index rose 18.22 points to 3,422.11 points. Trading volume was 1.31 billion shares worth 1.17 billion Singapore dollars. Decliners outnumbered advancers 238 to 195, while 499 stocks did not move.

Among top actives, Noble Group surged 6.9 percent to 1.01 Singapore dollars. Moody's Investors Service said Noble's operating results for 2014 were consistent for the Baa3 rating category and stable outlook. Adjusted leverage and interest coverage showed improvement, largely attributable to the 51 percent sale and spinoff of Noble Agri Limited. The stable outlook reflected Moody's expectation that the company can execute on its growth plans with modestly higher leverage and will maintain excellent liquidity.

SembCorp Industries rose 2.1 percent to 4.29 Singapore dollars. It announced that its first power project in India, Thermal Powertech Corporation India, has successfully commenced commercial operation with the completion of its first 660-megawatt unit. The 1,320-megawatt coal-fired power plant comprises two units of 660 megawatts each, with the second unit expected to begin commercial operation in the third quarter of 2015.

Among the top gainers, Jardine Matheson rose 2.2 percent to 65. 99 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1 percent to 43 Singapore dollars. (1 U. S. dollar equals to 1.36 Singapore dollars) Endi