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Roundup: Singapore stocks end up 0.65 pct

Xinhua, February 29, 2016 Adjust font size:

Singapore shares closed 0.65 percent higher on Monday, as investors bargain hunted some property stocks in the afternoon on speculations that the government may lift part of property cooling measures.

In the parliament session after the market close, the government reiterated it is "too early" to relax the property market cooling measures, as doing so could result in a market rebound.

Singapore's benchmark Straits Times Index rose 17.13 points to 2,666.51 points. Trading volume was 1.51 billion shares worth 2.62 billion Singapore dollars. Advancers outnumbered decliners 196 to 187, while 544 stocks did not move.

Among top actives, Spackman Entertainment Group dropped 6.5 percent to 13 Singapore cents. The movie production company's full-year net loss narrowed to 1.1 million U.S. dollars from 8 million U.S. dollars a year earlier.

But its revenue dropped 16 percent to 13.6 million U.S. dollars. It released one film, The Priest, in financial year 2015, compared with four films in 2014.

The Priest generated production revenue of 6.19 million U.S. dollars and other revenues of 4.37 million U.S. dollars.

Other revenues came from distribution of previous films, production of documentaries, its cafe business and professional photography services.

UOL Group fell 0.5 percent to 5.66 Singapore dollars. Its net profit tumbled 43 percent to 391.4 million Singapore dollars in the financial year 2015, from 685.9 million Singapore dollars a year ago.

The weaker earning was due mainly to lower fair-value gains from the group's investment properties and the absence of a large one-time profit made from the sale of a piece of land in Malaysia in 2014.

Its revenue also fell 6 percent to 1.28 billion Singapore dollars from 1.36 billion Singapore dollars previously.

Among top gainers, Jardine Matheson rose 3 percent to 58.22 U.S. dollars, while City Development became one of the top losers by falling 1.3 percent to 7.11 Singapore dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Enditem