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Roundup: Singapore stocks end up 1 pct

Xinhua, October 23, 2015 Adjust font size:

Singapore shares closed 1 percent higher on Friday, as investors welcomed the prospect of new stimulus measures in Europe.

Global stocks rose sharply since overnight after the European Central Bank (ECB) signaled its readiness to inject more stimulus.

While the ECB held policy steady at its meeting on Thursday as widely expected, the central bank chief Mario Draghi told a news conference that ECB policymakers were "open to the full menu of monetary policy" to stoke the Euro-zone economy as needed.

Singapore's benchmark Straits Times Index rose 30.35 points to 3,068.46 points. Trading volume was 1.49 billion shares worth 1.03 billion Singapore dollars. Advancers outnumbered decliners 263 to 166, while 507 stocks did not move.

SembCorp Marine fell 3.2 percent to 2.46 Singapore dollars. The Singapore rigbuilder reported a 76 percent decline in third-quarter net profit to 32 million Singapore dollars from a year ago.

For the three months to September, its turnover was 1.13 billion Singapore dollars, 34 percent lower compared with 1.7 billion Singapore dollars previously mainly due to the reduction of rig deliveries in the quarter as well as lower ship repair revenue, although contributions from offshore platforms were higher.

Koh Brothers Group Limited rose 3.5 percent to 29.5 Singapore cents. Changi Airport Group awarded a 1.12 billion Singapore dollar contract to a joint venture formed by Samsung C&T Corporation and Koh Brothers to develop a three-runway system.

The award follows a competitive tender which drew participation from 10 bidders and is the first of several packages to roll out a three-runway system by the early 2020s for Changi Airport.

Among top gainers, Jardine Cycle and Carriage jumped 5.1 percent to 32.40 Singapore dollars, while SembCorp Industries became one of the top losers by falling 2.4 percent to 3.70 Singapore dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Enditem