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Roundup: Singapore stocks end up 1.75 pct

Xinhua, October 9, 2015 Adjust font size:

Singapore shares closed 1.75 percent higher on Friday, taking cue from firmer Wall Street and oil prices overnight.

Oil prices climbed to their highest in three months on Thursday, after forecaster PIRA Energy Group predicted crude prices would rise to 70 U.S. dollars per barrel by the end of 2016. Crude oil futures extended overnight gains in early Asian trades.

Meanwhile, U.S. stocks ended higher overnight after the minutes of U.S. Federal Reserve policy meeting last month revealed the extent to which policymakers were concerned that a global economic slowdown might threaten the U.S. economic outlook. Though they said overseas turmoil had not "materially altered" economic prospects, they opted to hold interest rates steady last month.

Singapore's benchmark Straits Times Index jumped 51.47 points to 2,998.5 points. Trading volume was 1.87 billion shares worth 1. 45 billion Singapore dollars. Advancers outnumbered decliners 326 to 102, while 503 stocks did not move.

Singapore Exchange Limited inched up 0.4 percent to 7.56 Singapore dollars. It sustained growth in securities, derivatives and commodities in September. Total securities market turnover value grew 7 percent on-year to 22.5 billion Singapore dollars, despite fewer trading days in September 2015 as compared to September 2014. Securities daily average value also increased 18 percent on-year to 1.1 billion Singapore dollars. Total derivatives volume was 14.1 million Singapore dollars, up 33 percent on-year.

China Everbright Water rose 2.9 percent to 72 Singapore cents. It announced that its Jinan Licheng Reusable Water has confirmed a tariff raise of over 12.3 percent with retrospective effect from July 1, 2015 through successful negotiation with its customers.

Licheng Reusable Water Project started its operation in September 2011. It is the largest single reusable water project in Shandong Province, with a designed daily reusable water supply capacity of 42,000 cubic meters.

The project provides reusable water as circulating coolant for its customers, which replaces underground water as a step to promote energy conservation and water recycling in Jinan City.

Among top gainers, Jardine Matheson rose 2.4 percent to 51.85 Singapore dollars, while Great Eastern Holdings became one of the top losers by falling 1.1 percent to 20.52 Singapore dollars. (1 U. S. dollar equals to 1.40 Singapore dollars) Endi