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Roundup: Singapore stocks end up 0.09 pct

Xinhua, March 24, 2015 Adjust font size:

Singapore shares closed 0.09 percent higher on Tuesday, as investors bet that the U.S. Federal Reserve will raise interest rates only later this year.

Federal Reserve Vice Chair Stanley Fischer, the central bank's second-in-command, said overnight that the Federal Reserve is " widely expected" to begin raising interest rates this year though the policy path remains uncertain.

He added that while the stronger U.S. dollar and weaker oil prices figure in U.S. policymaking, the central bank is "trying to look through those phenomena."

But Voyage Research said "traders seemed hesitant to make any significant moves amid the lingering uncertainty about the monetary policy outlook."

Singapore's benchmark Straits Times Index inched up 3.13 points to 3,413.26 points. Trading volume was 1.05 billion shares worth 1. 02 billion Singapore dollars. Advancers outnumbered decliners 239 to 173, while 517 stocks did not move.

Among top actives, Genting Singapore PLC fell 1.1 percent to 94 Singapore cents. It has executed a facility agreement for syndicated senior secured credit facilities of 2.27 billion Singapore dollars. The new facilities will be utilized primarily for refinancing Resort World Sentosa's existing facilities of 4. 1925 billion Singapore dollars obtained in 2011 Roxy-Pacific Holdings closed flat at 53 Singapore cents.

It announced a second joint venture with Australia-based superannuation fund, Hostplus, to acquire a land parcel in North Fremantle, Perth, Australia, for about 63 million Singapore dollars, as part of its geographical diversification strategy. The joint venture partners intends to re-zone the industrial site - located next to the prime Leighton beach and a train station connected directly to Perth's central business district - for residential and commercial uses.

Among the top gainers, Jardine Matheson rebounded 0.6 percent to 62.71 U.S. dollars, whereas UOB became one of the top losers by falling 0.9 percent to 22.79 Singapore dollars. (1 U.S. dollar equals to 1.37 Singapore dollars) Endi