Roundup: Singapore stocks end up 0.71 pct

Singapore shares closed 0.71 percent higher on Thursday, after the U.S. Federal Reserve hiked rates with emphasis on gradual path as expected.

The Federal Reserve raised interest rate by 25 basis points after months of waiting and several false starts. Federal Reserve Chair Janet Yellen assured the markets after the policy meeting that future tightening would be "gradual" and dependent on inflation finally moving higher.

U.S markets rebounded strongly from low early in the trading day after her statement.

Singapore's benchmark Straits Times Index rose 20.26 points to 2,861.18 points. Trading volume was 922 million shares worth 1.06 billion Singapore dollars. Decliners outnumbered advancers 226 to 164, while 536 stocks did not move.

Among top actives, Addvalue Technologies soared 20.5 percent to 4.7 Singapore cents. It announced the space qualified satellite-based data relay terminal on the VELOX-II satellite was successfully launched into orbit on Wednesday by an Indian rocket. The VELOX-II satellite, which was built by Nanyang Technological University, carried the Addvalue's proprietary data relay terminal as its primary payload.

AusGroup Limited rose 0.7 percent to 15.2 Singapore cents. It announced new orders worth a total of 101.5 million Singapore dollars in the current quarter. It said the orders include new contracts and extensions from clients in the energy and industrial sectors. The contracts are for scaffolding, maintenance and refractory installation.

Among the top gainers, Singapore Airlines rose 2.2 percent to 11.04 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.8 percent to 46.03 U.S. dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Enditem