Singapore stocks end up 0.03 pct

Singapore shares closed 0.03 percent higher on Monday, as investors tried to digest the mixed price data from China for March.

Data out on Monday showed China's consumer price inflation was less than expected in March, while wholesale prices declined less than anticipated in a sign that deflationary pressure in the industrial sector may be easing.

While pointing to stabilizing prices, the numbers also underscored that China's prolonged easing campaign begun in late 2014 has yet to result in substantial price increases.

DBS Group Research said "we maintain our view for the Straits Times Index to range within 2,730 points to 2,920 points in coming weeks with intermediate support and resistance levels at 2,785 points and 2,850 points."

Singapore's benchmark Straits Times Index inched up 0.92 points to 2,809.24 points. Trading volume was 1.11 billion shares worth 760 million Singapore dollars. Decliners slightly outnumbered advancers 193 to 188, while 533 stocks did not move. OSIM International rose 1.5 percent to 1.39 Singapore dollars. Its Chairman and Chief Executive Officer, Ron Sim, raised the final offer price for each OSIM share to 1.41 Singapore dollars in his bid to take private the lifestyle products group he founded.

This is 2 Singapore cents higher than the 1.39 Singapore dollar offer price announced last Tuesday which included a 2 Singapore cents dividend.

Among top gainers, Jardine Matheson rose 0.7 percent to 58.44 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.5 percent to 39.18 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endite