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Roundup: Singapore stocks end up 0.04 pct

Xinhua, November 17, 2015 Adjust font size:

Singapore shares closed 0.04 percent higher on Tuesday, after U.S. stocks rebounded strongly overnight.

U.S. markets rebounded as investors were hopeful that any fallout from Friday's terrorist attacks in Paris will only have a limited economic impact.

DBS Group Research said "monetary policy decisions by central banks will continue to be a major influence on equities in the months ahead as corporate earnings fail to inspire and regional economies slow. Rather than relief, we think further delays to the first U.S. rate hike may instead trigger frustrations and uncertainty about the global economy."

Singapore's benchmark Straits Times Index inched up 1.05 points to 2,916.78 points. Trading volume was 1.36 billion shares worth 894 million Singapore dollars. Advancers outnumbered decliners 194 to 190, while 551 stocks did not move.

Among top actives, Neptune Orient Lines jumped 5.2 percent to 1.12 Singapore dollars. CMA CGM SA, the French container transportation and shipping company, is reportedly emerging as an early favorite to buy Neptune Orient Lines. The Singapore-listed shipping company has sold its headquarters building in recent years and spun off a logistics business to raise capital and endure what has turned out to be a protracted slowdown in the shipping sector.

Noble Group dropped 3.4 percent to 42 Singapore cents. The commodities trader was put on review for likely downgrade by the ratings agency Moody's Investors Service. Moody's said it has to lower Noble's Baa3 status due to its weaker-than-expected liquidity profile and its still-high leverage in its quarterly results announcement. Noble reported last week that its net profit slid 84 percent in the third quarter compared with the same period a year earlier and its chief financial officer resigned.

Among the top gainers, Jardine Matheson rose 2.5 percent to 51.74 U.S. dollars, whereas Singapore Airlines became one of the top losers by falling 1.3 percent to 10.60 Singapore dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit