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Roundup: Singapore stocks end up 0.74 pct

Xinhua, June 23, 2015 Adjust font size:

Singapore shares closed 0.74 percent higher on Tuesday, bolstered by hopes that Greece's latest budget proposals would lead to a deal with lenders later this week.

European Council President Donald Tusk called the Greek proposals "a positive step forward," and said the aim was to have Eurogroup finance ministers approve a cash-for-reform package on Wednesday evening, and put it to Euro-zone leaders for final endorsement on Thursday morning.

But some analysts cautioned that steps in a positive direction did not guarantee an eventual solution to Greece's debt crisis.

Meanwhile, HSBC's preliminary China manufacturing purchasing managers' index for June climbs to 49.6, compared to 49.2 in May pointing to a decreased rate of contraction, showing signs of improvement as output stabilized amid a slight pick-up in total new work, while purchasing activity also rose slightly over the month.

Singapore's benchmark Straits Times Index rose 24.65 points to 3,339.78 points. Trading volume was 1.05 billion shares worth 917 million Singapore dollars. Advancers outnumbered decliners 232 to 196, while 534 stocks did not move.

China Environmental Resources Group surged 20 percent to 12 Singapore cents. Also listed in Hong Kong bourse, it planned to raise 20.4 million Singapore dollars by selling new shares at 63 Hong Kong cents apiece for working capital. The new shares represent 20 percent of the group's existing issued share capital. The placement price is at a 17.11 percent discount to the stock's closing price of 76 Hong Kong cents in Hong Kong.

Ntegrator International Limited shed 3.7 percent to 2.6 Singapore cents. It announced that it has won contracts from repeat customers worth 8.2 million Singapore dollars. There are 3 microwave equipment supply contracts in Myanmar from repeat customers, and also a 2 year contract for installation, operation and maintenance services for the Next Generation National Broadband Network in Singapore. These wins bring its order wins for the year to 59 million Singapore dollars.

Among the top gainers, Jardine Matheson rose 1.8 percent to 56. 48 U.S. dollars, whereas Silverlake Axis Limited became one of the top losers by falling 5.4 percent to 1.13 Singapore dollars. (1 U. S. dollar equals to 7.753 Hong Kong dollars and 1.34 Singapore dollars) Endi