Roundup: Singapore stocks end up 0.98 pct

Singapore shares closed 0.98 percent higher on Thursday, after Wall Street stocks jumped almost 2 percent overnight.

Despite Wednesday's rebound, U.S. shares have only pared about half of the losses seen earlier in the week. Meanwhile, Chinese share markets are closed for a holiday on Thursday. Investors took comfort on news that several leading Chinese brokerages said on Wednesday that they will increase the size of their proprietary stock trading.

Singapore's benchmark Straits Times Index rose 28.3 points to 2, 906.43 points. Trading volume was thin at 1.05 billion shares worth 642 million Singapore dollars. Advancers outnumbered decliners 240 to 143, while 556 stocks did not move.

Among top actives, Medtecs International jumped 35.4 percent to 6.5 Singapore cents. It has entered into an agreement to place 81. 9 million new shares at an issue price of 7 Singapore cents each. The issue price represents a premium of approximately 49 percent to the last volume weighted average price. The net proceeds of about 5.5 million Singapore dollars will be used for the general working capital of the company.

Sapphire Corporation Limited rose 1.2 percent to 8.1 Singapore cents. It announced that its shareholders have approved its 360.4 million Chinese yuan acquisition of Ranken Infrastructure Limited. Ranken, a China-based rail engineering specialist, has the qualifications and licenses to design, construct and project consult in China's rail transit sector. It has an order-book of 2. 1 billion Chinese yuan as at Dec. 31, 2014.

Among top gainers, Jardine Matheson rose 1.8 percent to 50.32 U. S. dollars, while UOL Group Limited became one of the top losers by falling 1.1 percent to 6.05 Singapore dollars. (1 U.S. dollar equals to 6.355 Chinese yuan and 1.42 Singapore dollars) Endi