Singapore stocks end up 0.04 pct

Singapore shares closed 0.04 percent higher on Monday, buoyed by upbeat U.S. retail sales.

Data released on May 13 showed U.S. retail sales rose 1.3 percent, the largest growth in more than a year, indicating the world's top economy was regaining momentum.

DBS Group Research said "Our view remains for the Straits Times Index to trade within 2,700 points (2,685 points at worst) to 2,835 points in the weeks ahead. Oversold near-term technicals and lower valuation should underpin the market but rebound upside is cap by an uncertain macro outlook, weak first-quarter results season, U.S. dollar rebound against Singapore dollar and the June 23 BREXIT referendum."

Singapore's benchmark Straits Times Index inched up 1.15 points to 2,736.06 points. Trading volume was 2.61 billion shares worth 848 million Singapore dollars. But decliners outnumbered advancers 227 to 200, while 483 stocks did not move.

Vallianz Holdings closed flat at 4.1 Singapore cents. It won a contract worth 210 million U.S. dollars to charter 13 offshore supply vessels to a state-owned oil company in the Middle East. Vallianz, which charters vessels to the offshore oil industry, did not name the customer. The deal boosted its orders to 1.2 billion U.S. dollars.

CWT Limited rose 0.9 percent to 2.14 Singapore dollars. The logistics and supply chain company said its controlling shareholders have entered into exclusive talks to sell their stake to a unit of Chinese conglomerate HNA Group. In August last year, CWT said its controlling shareholders were considering a strategic review of the business and assets.

Among top gainers, Jardine Cycle and Carriage rose 0.6 percent to 32.23 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.8 percent to 53.88 U.S. dollars. (1 U.S. dollar equals to 1.37 Singapore dollars) Endit