Roundup: Singapore stocks end almost flat

Singapore shares closed 0.01 percent lower on Thursday, as investors wondered when U.S. Federal Reserve will raise interest rate.

U.S. stocks edged up overnight albeit off day-high after minutes from the last Federal Reserve meeting indicated officials were split over whether economic data was strong enough to raise interest rates as soon as in June.

The minutes showed that while several officials said the economic data and outlook probably warranted higher rates at the June meeting, other policy makers argued that lower energy prices and dollar strength would damp inflation, delaying the need for rate rises.

Singapore's benchmark Straits Times Index fell 0.38 points to 3, 460.30 points. Trading volume was 3.04 billion shares worth 1.36 billion Singapore dollars. Advancers outnumbered decliners 272 to 178, while 486 stocks did not move.

Among top actives, Noble Group sank 5.5 percent to 86 Singapore cents. The commodities supplier came under attack for its accounting practices from Muddy Waters, which alleged that Noble reported highly inflated goodwill gains after buying an Indonesian coal mining firm PT Alhasanie.

Noble booked a gain from negative goodwill of 46.4 million U.S. dollars after paying 300,000 U.S. dollars for the company. Muddy Waters' attack on Noble follows an anonymous blogger called Iceberg Research in questioning the company's management and balance sheet earlier this year.

United Envirotech Limited closed flat at 1.65 Singapore dollars.

It announced that it acquired a wastewater treatment firm in China's Hebei province for 500 million Chinese yuan. It will buy the entire equity of Bishui Lantian, which owns a wastewater treatment plant with a combined capacity of 200,000 cubic meters a day in Gaoyang county, a major textile center in China.

The acquisition allows United Envirotech to get a foothold in the important textile center of China, which produces nearly a third of towels, blankets and wool yarn produced in the country.

Among top gainers, City Developments Limited rose 2.7 percent to 10.72 Singapore dollars, while Jardine Cycle and Carriage became one of the top losers by falling 0.5 percent to 42.20 Singapore dollars. (1 U.S. dollar equals to 6.204 Chinese yuan and 1.35 Singapore dollars) Endi