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Roundup: Singapore stocks end up 0.18 pct

Xinhua, June 12, 2015 Adjust font size:

Singapore shares closed 0.18 percent higher on Friday, although many investors were cautious over the Greek debt talks.

Trading mood turned cautious following the International Monetary Fund's surprise decision to leave negotiations in Brussels because of major differences with Greece. The move came as the European Union told Greek Prime Minister Alexis Tsipras to stop gambling with his country's future and take crucial decisions needed to avert default.

Adding to the air of uncertainty, German media reported Berlin was holding "concrete consultations" on what to do in the case of a Greek bankruptcy, including discussions about introducing capital controls in Greece if the crisis-stricken country goes bankrupt.

Singapore's benchmark Straits Times Index rose 6.18 points to 3, 353.85 points. Trading volume was 1.31 billion shares worth 948 million Singapore dollars. Decliners outnumbered advancers 229 to 187, while 540 stocks did not move.

Among top actives, Albedo Limited surged 23.1 percent to 1.6 Singapore cents. It has bought a majority stake in China iMyth, a Chinese aesthetic medicine group, which would serve as a springboard for Albedo's expansion into China's fast-growing healthcare market. Albedo will own 51 percent stake in China iMyth for approximately 18.9 million Singapore dollars. The payment will comprise 12 million Singapore dollars in cash and 550 million shares at an issue price of 1.25 Singapore cents a share.

Noble Group Limited fell 2.8 percent to 68.5 Singapore cents. The Hong Kong-based commodity trading firm said it had paid a total of 16.8 million Singapore dollars to purchase 25 million of its own shares on Thursday, or about 0.37 percent of its issued shares.

Meanwhile, credit rating agency Standard and Poor's on Thursday cut its outlook on Noble to "negative" from "stable," saying it expected higher earnings volatility.

Among top gainers, ComfortDelgro Corporation rose 2.6 percent to 3.20 dollars, while Jardine Matheson became one of the top losers by falling 1.4 percent to 57.90 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi