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Roundup: Singapore stocks end up 0.41 pct

Xinhua, October 22, 2015 Adjust font size:

Singapore shares closed 0.41 percent higher on Thursday, as investors continued to wait for European Central Bank (ECB)'s policy meeting decision later in the day.

Investors are keen to know from the ECB on its plans regarding additional stimulus. ECB President Mario Draghi is widely expected to keep the door open for more monetary stimulus in the face of deflation risks, but is seen stopping short of taking new policy steps at Thursday's meeting.

DBS Group Research forecast a near-term range of 2,950 points and 3,050 points for Straits Times Index with modest overshoot capped at 3,100 points, no overshoot so far as investors await the results season to unfold.

Within this range, investors should be watchful of the intermediate level at 3,010 points, as weakness below this signal a dip to 2,975 points or 2,950 points.

Singapore's benchmark Straits Times Index rose 12.41 points to 3,038.11 points. Trading volume was 1.25 billion shares worth 681 million Singapore dollars. Advancers outnumbered decliners 219 to 166, while 550 stocks did not move.

Among top actives, Stratech Group closed flat at 0.5 Singapore cents. It has secured another contract to upgrade its iFerretTM intelligent Airfield and Runway Surveillance, and Foreign Object and Debris Detection System at Singapore Changi Airport.

This follows an earlier contract in April this year for the first phase of the iFerretTM upgrade previously announced.

The contracts for both the first and second phases of the iFerretTM upgrade include options for the installation of iFerretTM at the airport's upcoming third runway, maintenance and other works.

Tritech Group rose 1.6 percent to 12.9 Singapore cents. It said it has entered an investment framework agreement effective October 19 with the government of Chaohu city and Asia-Pacific Diqu (Chaohu) Cultural Industry Park for a build-operate-transfer project of the wastewater treatment plant in Chaohu, Anhui, China. Among top gainers, UOB rose 0.6 percent to 20.23 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1 percent to 53.01 U.S. dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Enditem