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Roundup: Singapore stocks end up 0.02 pct

Xinhua, June 19, 2015 Adjust font size:

Singapore shares closed 0.02 percent higher on Friday, buoyed by bargain-hunting by some investors.

A moderate recovery in the U.S. economy in previous months had raised concerns the Federal Reserve would strike a hawkish stance at Wednesday's meeting, but cautious tone of Federal Reserve policy statement on Wednesday sparked a sense of relief in the market.

Meanwhile, the Greek factor continued to temper any market optimism. Euro-zone leaders will hold an emergency summit on Monday after the currency bloc's finance ministers failed to make a breakthrough on a cash-for-reforms agreement with Greece on Thursday.

Singapore's benchmark Straits Times Index rose 0.54 points to 3, 300.96 points. Trading volume was 1.37 billion shares worth 1.32 billion Singapore dollars. Advancers outnumbered decliners 242 to 179, while 542 stocks did not move.

Among top actives, KrisEnergy Limited rose 2.3 percent to 44.5 Singapore cents. It announced it has started producing oil at three initial wells in the Nong Yao field in the Gulf of Thailand. Nong Yao is the first development project in the company's portfolio to start producing oil. KrisEnergy is currently working on another four oil developments in the Gulf of Thailand, including the Wassana oil field that is expected to go into production shortly.

Ley Choon Group Holdings jumped 11.7 percent to 6.7 Singapore cents. It was awarded a 24.8 million Singapore dollar contract from the Changi Airport Group to resurface the taxiways at Changi Airport. The project commenced on June 15 and is expected to complete by Feb. 14, 2017. Ley Choon's unfulfilled order book based on secured contracts stood at 184.7 million Singapore dollars as at end of April, keeping it busy with projects for next two years.

Among top gainers, DBS Group rose 0.5 percent to 20.68 Singapore dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.2 percent to 35.61 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi