Roundup: Singapore stocks up 0.02 pct following overnight Wall Street rise

Singapore shares closed 0.02 percent higher on Tuesday, after U.S stocks rallied overnight on crude oil's rebound from a six-year low.

Brent crude managed to hover around 38 U.S dollars after falling as low as 36.33 U.S. dollars a barrel on Monday, its weakest since December 2008. But investors remained cautious two days before the Federal Reserve is expected to end seven years of holding rates near zero.

DBS Group Research said Straits Times Index rebounded from an intra-day low near 2,790 points yesterday. In the immediate term, this level should hold as prices hold steady ahead of tomorrow's Federal Reserve meeting outcome. The next one week will depend on what the Federal Reserve does and hints with regards to how fast rates may go up.

Singapore's benchmark Straits Times Index inched up 0.48 points to 2,815.52 points. Trading volume was 870 million shares worth 860 million Singapore dollars. Decliners outnumbered advancers 203 to 184, while 540 stocks did not move.

Sinarmas Land rose 1.1 percent to 46.5 Singapore cents. It revealed its plans for Nuvasa Bay development project on the beachfront of Nongsa on Batam island, Indonesia. It planned to invest a minimum of 400 million Singapore dollars over the next five years to develop Batam's first luxury integrated residential and mixed-use development, which will integrate an exclusive residential area with a full suite of resort facilities surrounded by an 18-hole international golf course along the 1.2 km-long beachfront.

Among the top gainers, Jardine Cycle and Carriage rose 2.3 percent to 33.85 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.8 percent to 46.02 U.S. dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Enditem