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Roundup: Singapore stocks end up 0.84 pct

Xinhua, June 17, 2015 Adjust font size:

Singapore shares closed 0.84 percent higher on Wednesday as investors waited for the U.S. Federal Reserve to delivers views on the U.S. economy after two- day policy meeting.

U.S. stocks rose overnight on speculations that the Federal Reserve will adopt a more dovish stance amid uncertainty over Greece's future in the Euro-zone.

Meanwhile, Greek debt crisis continued to keep many investors on edge. Greek Prime Minister Alexis Tsipras accused creditors on Tuesday of trying to "humiliate" Athens with more cuts as he defied warnings that Europe was preparing for his country to leave the Euro. The public rancor left little hope that a meeting of European Union finance ministers on Thursday would make any progress.

The benchmark Straits Times Index rose 27.82 points to close at 3,325.91 points. Trading volume was 1.38 billion shares worth 1.27 billion Singapore dollars. Advancers outnumbered decliners 287 to 137, while 540 stocks closed unchanged.

ST Engineering Limited rose 0.6 percent to 3.28 Singapore dollars. It announced that its aerospace arm ST Aerospace has secured a seven-year contract worth more than 100 million U.S. dollars, for aircraft component support with Flybe. This contract follows an existing agreement signed in 2004.

COSCO Corporation (Singapore) Limited rose 4.1 percent to 51 Singapore cents. It announced that it has entered into a contract valued over 129 million Chinese yuan from an Asian buyer to build one research vessel. The contract will become effective upon the receipt of letter of guarantee from the bank of the shipyard. The vessel is expected to be delivered in the fourth quarter of 2017.

Among the top gainers, Jardine Matheson rose 2 percent to 56.12 U.S. dollars, while M1 Limited dropped 2.7 percent to 3.25 Singapore dollars. (1 U.S. dollar equals to 6.21 Chinese yuan and 1.35 Singapore dollars) Endi