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Roundup: Singapore stocks end up 0.45 pct

Xinhua, July 3, 2015 Adjust font size:

Singapore shares closed 0.45 percent higher on Friday, although many investors were cautious ahead of the Greek referendum on Sunday.

The outcome of Greece bailout terms looks uncertain, and any outcome of the referendum will determine whether the country stays in the euro-zone. Many investors will be loath to make any major moves ahead of this critical weekend in Europe.

Meanwhile, the recent volatility in Shanghai bourse also weighed on investors' sentiment. While Chinese authorities have announced measures to stop the massive sell-offs that has pushed market sharply lower, these moves so far have failed to encourage investors to buy and brokers remain wary.

Singapore's benchmark Straits Times Index rose 14.89 points to 3,342.73 points. Trading volume was 1.27 billion shares worth 779 million Singapore dollars. Decliners outnumbered advancers 248 to 163, while 550 stocks did not move.

Perennial Real Estate Holdings closed flat at 1.06 Singapore dollars. It is paying 46 million U.S. dollars for a 40-percent stake in the joint venture with Guangdong Boai Medical Group to acquire, develop and manage hospitals and medical services business in China.

Guangdong Boai Medical Group is a subsidiary of the China Boai Medical Group, one of the largest private hospital and medical services operators in China. The joint venture will acquire its first operational business, Modern Hospital Guangzhou, one of the leading tumour and cancer hospitals in Guangzhou.

Global Logistics Properties Limited shed 0.4 percent to 2.53 Singapore dollars. It announced that it has signed new lease agreements totaling 58,000 square meters with four leaders in the e-commerce, retail and automotive industries. All of the customers cater to domestic consumption and three are multi-location customers including JD.com, RT-Mart and a leading global automotive manufacturer.

Among top gainers, DBS Group rose 2 percent to 20.91 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.1 percent to 55.96 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi