Off the wire
• China urges anti-terrorism cooperation  • Urgent: Iraqi court sentence 47 people to death for mass killing of soldiers  • Urgent: 15 killed in U.S.-led coalition airstrikes in northeast Syria  • Security forces foil suicide car bomb attempts in Iraq's Anbar  • 2nd LD: 6 Turkish soldier killed in attack on military vehicle in SE Turkey  • Kenyan troops kill Al-Shabaab deputy commander in Somalia: military  • Benin's presidential election campaign to start Friday  • 1st LD: Syrian army captures last rebel stronghold in Latakia province  • Urgent: Gunmen attack UN base in S. Sudan, killing seven  • Singapore stocks close 1.67 pct higher  
You are here: 　 Home

Roundup: Singapore stocks end up 1.67 pct

Xinhua, February 18, 2016 Adjust font size:

Singapore shares closed 1.67 percent higher on Thursday after U.S. stocks jumped overnight on expectation that U.S. Federal Reserve may put off rate hike in the near future.

According to minutes of the Federal Open Market Committee's Jan. 26-27 meeting released Wednesday, Fed policy makers expressed concern that the fall in commodity prices and the rout in financial markets increasingly posed risks to the U.S. economy.

U.S. market benchmark Dow Jones Industrial Average rose nearly 2 percent overnight Wednesday to log their first three-day rally this year, as investors believed the minutes indicated the Federal Reserve will be unlikely to hike rates in the near future.

Meanwhile, investors shrugged off news that China's producer-price index declined 5.3 percent in January from a year earlier, compared with a 5.9 percent year-over-year drop in December.

Singapore's benchmark Straits Times Index rose 43.78 points to 2,657.57 points. Trading volume was 1.16 billion shares worth 1.34 billion Singapore dollars. Advancers outnumbered decliners 278 to 110, while 536 stocks did not move.

Global Logistic Properties gained 2.7 percent to 1.69 Singapore dollars. It launches a second Japan fund with Canada Pension Plan Investment Board. This could potentially increase Global Logistic Properties' asset under management by 7 percent and management fees by 11 percent.

CWT Limited rose 1.1 percent to 1.82 Singapore dollars. The logistics provider reported net profit after tax of 113.9 million Singapore dollars in financial year 2015, up marginally from the previous year. This is despite a 30 percent drop in revenue to 9.9 billion Singapore dollars and after providing for an estimated net loss of 8.8 million Singapore dollars arising from the Tianjin blasts on Aug.12 last year.

Among the top gainers, DBS Group rose 2.1 percent to 13.89 Singapore dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 0.5 percent to 38.96 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Enditem