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Roundup: Singapore stocks end up 0.15 pct

Xinhua, April 21, 2015 Adjust font size:

Singapore shares closed 0.15 percent higher on Tuesday, although investors were cautious amid mounting worries that Greece could default on its debt payment.

Investors were growing pessimistic that Greece will not be able to present detailed plans that would satisfy Euro-zone finance ministers to continue their financial support at their meeting on Friday. This means Greece could be running out of cash by the end of this month.

The market euphoria over China's stimulus during the weekend waned by Tuesday. The Chinese central bank on Sunday cut the amount of cash banks must hold as reserves in its latest attempt to spur lending and combat a slowing economy.

Singapore's benchmark Straits Times Index rose 5.36 points to 3, 508.61 points. Trading volume was 2.05 billion shares worth 1.29 billion Singapore dollars. Advancers outnumbered decliners 262 to 199, while 471 stocks did not move.

Among top actives, Singapore Telecommunications shed 1.4 percent at 4.35 Singapore dollars. It announced it will delist from the Australian Stock Exchange (ASX). Its CHESS Depositary Interests (CDI), essentially a type of security in Australia for foreign companies to list locally, will be converted into ordinary shares, or sold by a company-provided facility. It was listed on ASX in September 2001 in connection with its acquisition of Optus. Its CDIs on issue have declined significantly in recent years and daily trading volumes are very low. The stock's fall in Singapore could be due to the additional supply in the market arisen from the conversion option.

CapitaMall Trust inched down 0.4 percent to 2.24 Singapore dollars. It reported gross revenue rose 1.6 percent on year to 167. 4 million Singapore dollars, while net property income grew 3 percent to 117.7 million Singapore dollars due to increases in mall traffic and tenants sales in the first quarter. It announced a 4.3 percent rise in its fiscal first quarter distribution per unit to 2.68 Singapore cents.

Among the top gainers, Jardine Matheson rebounded 1.7 percent to 62.11 U.S. dollars, whereas DBS Group became one of the top losers by falling 1.1 percent to 20.78 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi