Roundup: Singapore stocks end up 0.92 pct

Singapore shares closed 0.92 percent higher on Friday, as the sharp drop in U.S. dollar pushed prices of oil and equities higher Investors turned more positive on riskier assets after the U.S. Federal Reserve adopted cautious stance on further interest rate increases.

U.S. crude and Brent crude advanced to above 40 U.S. dollars per barrel, while U.S. markets also closed to their highest level so far this year.

Adding to the positive sentiment was the strong Chinese home price data, which rose at their fastest pace in almost two years in February thanks to red-hot demand in big cities. China's Shanghai Composite index rose almost 2 percent on Friday.

Singapore's benchmark Straits Times Index rose 26.63 points to 2,906.8 points. Trading volume was 1.95 billion shares worth 1.67 billion Singapore dollars. Advancers outnumbered decliners 236 to 185, while 500 stocks did not move.

Midas Holdings rose 1.8 percent to 28.5 Singapore cents. It has secured contracts totaling 247.7 million Chinese yuan for the supply of train car body components for high-speed trains and metro trains.

The high-speed train contracts awarded, worth 217.3 million Chinese yuan, are for the supply of aluminum alloy extrusion profiles and fabricated parts for two types of high-speed trains. Midas will also supply aluminum alloy extrusion profiles worth 30.4 million Chinese yuan for the Shanghai Metro Line 17.

CITIC Envirotech fell 4.2 percent to 1.365 Singapore dollars. It has recently secured 2 wastewater treatment projects with a total investment of 147 million Chinese yuan.

The first is to set up a joint-venture company to invest 64 million Chinese yuan for the acquisition of a 40,000 cubic meters per day municipal wastewater treatment plant with a concession period of 27 years. For the second project, the company will acquire a 10,000 cubic meters per day industrial wastewater treatment plant under phase one and to build another 10,000 cubic meters per day under phase two in the Baiyi Industrial Park in Zao Zhuang City, Shandong Province, China.

The total investment of the project is 83 million Chinese yuan and has a concession period of 30 years. Among top gainers, Jardine Matheson rose 4 percent to 57 U.S. dollars, while SATS Limited became one of the top losers by falling 1.5 percent to 3.91 Singapore dollars. (1 U.S. dollar equals to 6.481 Chinese yuan and 1.36 Singapore dollars) Enditem