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Singapore stocks end up 1.02 pct

Xinhua, July 11, 2016 Adjust font size:

Singapore shares closed 1.02 percent higher on Monday, as investors took comfort in the strong U.S. employment data for June.

U.S. stock markets surged on July 8 after the U.S. Labor Department said non-farm payrolls rose by 287,000 in June, the strongest month of hiring since October. Market in average earlier estimated that non-farm employers added a seasonally adjusted 165,000 jobs last month. The May report had showed just 38,000 jobs were created, the worst reading since 2010.

Singapore's benchmark Straits Times Index rose 29.10 points to 2,876.14 points. Trading volume was 1.39 billion shares worth 928 million Singapore dollars. Advancers outnumbered decliners 243 to 168, while 497 stocks did not move.

Yamada Green Resources fell 4.7 percent to 33.5 Singapore cents. It proposed placement of 14.6 million new shares at a placement price of 29.28 Singapore cents per share. The placement price is the last volume weighted average price on July 7. The proceeds would increase and strengthen the general working capital to enable the group to further expand existing business operations.

Swiber Holdings ended flat at 17.9 Singapore cents. It is looking into its legal options pertaining to the delayed completion of a preference share subscription agreement for a 200 million U.S. dollar investment in its wholly-owned subsidiary, Swiber Investment Limited. Swiber said AMTC Limited, which entered into an agreement on June 9 to subscribe for 1,000 preference shares in the subsidiary for 200 million U.S. dollars, has requested to postpone the completion of the transaction. Both AMTC and Swiber had earlier agreed that the completion would take place on June 29.

Among top gainers, Jardine Cycle and Carriage rose 1.6 percent to 36.17 Singapore dollars, while Great Eastern Holdings became one of the top losers by falling 0.1 percent to 20.91 Singapore dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endit