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Roundup: Singapore stocks end up 0.02 pct

Xinhua, January 27, 2016 Adjust font size:

Singapore shares closed 0.02 percent higher on Wednesday, as investors waited for the outcome of the U.S. Federal Reserve policy meeting.

While Wall Street rebounded overnight on upbeat corporate earnings results and a bounce in crude oil prices, most Asian markets remained flat as investors were wary to take positions ahead of the Federal Reserve policy meeting. Market expected the Federal Reserve to repeat that normalization will proceed as data allows in 2016, though investors will be watching closely for any shift to a more dovish stance.

Singapore's benchmark Straits Times Index inched up 0.57 points to 2,559.77 points. Trading volume was 810 million shares worth 982 million Singapore dollars. Advancers outnumbered decliners 224 to 166, while 534 stocks did not move.

OUE Commercial REIT rose 3.3 percent to 63.5 Singapore cents. The commercial buildings real estate investment trust reported distribution per unit in the October-to-December quarter was 1.36 Singapore cents, compared to the circular forecast of 1.13 Singapore cents. This includes a one-off distribution of capital return of 1.3 million Singapore dollars in relation to certain expenses, which are non-tax deductible from a tax perspective. Excluding this one-off distribution, its distribution per unit would be at 1.26 Singapore cents. Its net property income came in at 29.7 million Singapore dollars.

Ascott Residence Trust fell 0.9 percent to 1.125 Singapore dollars. It reported that its fourth-quarter revenue was up 25.5 percent on-year to 119.2 million Singapore dollars, but its distribution per unit fell 4.2 percent primarily because of a one-off gain in the previous year. Without the one-time gain, distribution per unit would have grown 17.6 percent.

Among the top gainers, Petra Foods rose 8 percent to 2.29 Singapore dollars, whereas DBS Group became one of the top losers by falling 0.7 percent to 13.66 Singapore dollars. (1 U.S. dollar equals to 1.43 Singapore dollars) Endit