Roundup: Singapore stocks end up 0.47 pct

Singapore shares closed 0.47 percent higher on Wednesday, buoyed by big gains in U.S. stocks overnight due to poor U.S. manufacturing data.

Data released Tuesday showed the U.S. manufacturing sector contracted last month to its weakest level since June 2009, while construction spending rose in October to the highest level since December 2007. The mixed data raised question whether the U.S. economy is ready for an interest rate hike that could come as early as this month.

Singapore's benchmark Straits Times Index rose 13.38 points to 2,883.64 points. Trading volume was 945 million shares worth 1.06 billion Singapore dollars. Advancers outnumbered decliners 204 to 180, while 549 stocks did not move.

Linc Energy shed 6 percent to 18.8 Singapore cents. It has released an updated qualified person report (QPR) that suggests it may have better shale oil prospects in South Australia than previously thought.

The QPR confirms that a large area of the Arckaringa Basin contains Permian strata rich oil-prone kerogen that could form the basis of a "new liquids rich shale play" there. This comes following Linc Energy's current financial year exploration program on its shale oil exploration leases in the Arckaringa Basin.

SembCorp Marine dropped 4.4 percent to 1.97 Singapore dollars. The offshore drilling rig builders issued weak fourth-quarter guidance and expected to report a record net loss for the fourth quarter.

In a separate statement, it said it had commenced an action against Marco Polo Drilling (I) Private Limited, a subsidiary of Marco Polo Marine Limited, as the two have been locked in a dispute over a rig order.

Among the top gainers, Jardine Cycle and Carriage jumped 55 percent to 33.80 Singapore dollars, whereas SembCorp Industries became one of the top losers by falling 2.8 percent to 3.16 Singapore dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Endit