Off the wire
• Top news items in major S. African news outlets  • Foreign exchange rates in Singapore  • Turkey blocks access to Russia's Sputnik news website  • SW China curbing dam-building  • Chinese premier congratulates Jeenbekov on approval as Kyrgyz PM  • China to advance agenda of SME financing within G20  • WTO chief pays first visit to Vietnam  • Russia's budget deficit widens to 3.7 percent of GDP in first quarter  • Playwright Tang Xianzu's work to be brought to Britain  • Chinese teacher suspended after rating students drinking capacity  
You are here: 　 Home

1st LD Writethru: Singapore stocks end up 0.34 pct

Xinhua, April 15, 2016 Adjust font size:

Singapore shares closed 0.34 percent higher on Friday after a batch of fresh data raised hopes that China's economy had stabilized and set to improve in coming months.

Data showed that the world's second-largest economy grew 6.7 percent in the first quarter from a year earlier, according to the National Bureau of Statistics.

The figure was in line with what analysts expected, although China's economy still slowed from the 6.8 percent economic growth seen in the previous quarter.

However, other key gauges of China's economy picked up. In March, Chinese industrial production rose 6.8 percent from the previous year, beating analysts' estimates. That month, retail sales also jumped 10.5 percent from last year. Meanwhile, new home starts surged 19.2 percent in the first three months of the year, compared to the same period last year.

Singapore's benchmark Straits Times Index rose 10.01 points to 2,923.94 points. Trading volume was 942 million shares worth 840 million Singapore dollars. Advancers outnumbered decliners 203 to 183, while 524 stocks did not move.

Yuuzoo Corporation rose 2.2 percent to 23 Singapore cents. The e-commerce and social media firm announced a deal with Alibaba's sports unit to expand an existing partnership. Under the deal, YuuZoo will organize and run the AliSports World Electronic Sport Games in six countries in Southeast Asia. The prior agreement covered China only.

Global Logistic Properties shed 0.5 percent to 1.965 Singapore dollars. It has signed new leases totaling 153,000 square meters with four leading third-party logistics companies in China. Half of the new leased space is related to expansion demand from the e-commerce industry, 40 percent caters to auto parts and 10 percent is being used to serve cold chain food storage needs. One of the customers is a subsidiary of Sinotrans.

Among top gainers, Jardine Cycle and Carriage rose 0.4 percent to 42.80 Singapore dollars, while Singapore Airlines became one of the top losers by falling 0.8 percent to 11.39 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Enditem