Off the wire
• Bangladesh releases images of 9 dead militant suspects  • News Analysis: Australia needs demand-side reform to arrest falling inflation expectations  • 4 killed, 20 wounded in bomb attack in Yemen's Marib  • Estonia to assume EU presidency six months earlier  • Israel arrests 52 Palestinians in east Jerusalem operation  • South China Sea video displayed at NY Times Square  • Politically-connected former mayor prosecuted for graft  • China's foreign service trade deficit widens in June  • Interview: Tripartite Africa-China-U.S. talks to discuss maritime security  • Turkey says 8,651 military personnel involved in coup attempt  
You are here: 　 Home

Singapore stocks end up 0.27 pct

Xinhua, July 27, 2016 Adjust font size:

Singapore shares closed 0.27 percent higher on Wednesday, as investors waited for the outcome of U.S. Federal Reserve's policy meeting due later in the day.

The potential effect of the meeting on Asian markets will show up on Thursday when markets reopen. Analysts do not expect the Federal Reserve to adjust interest rates yet, but it may strike a more hawkish stance given the recent string of improved U.S. economic data, and the strong performance seen in the U.S. stock markets.

U.S. stocks ended steady on Tuesday after Apple released better-than-expected third quarter revenue and net income, and also guided to better-than-expected fourth quarter revenue.

Singapore's benchmark Straits Times Index rose 8.05 points to 2,941.49 points. Trading volume was 991 million shares worth 819 million Singapore dollars. Advancers outnumbered decliners 212 to 182, while 513 stocks did not move.

Great Eastern Holdings fell 1.8 percent to 21.40 Singapore dollars. It reported net profit fall 63 percent to 102.2 million Singapore dollars in second quarter this year from 277.7 million Singapore dollars in the same period last year. The weaker earning was due to a 18.7 million Singapore dollars loss on disposal of the group's Vietnam subsidiary, unfavorable financial markets and low interest rate environment. The profit for second quarter last year also included a 119.9 million Singapore dollars gain on disposal of its investments in New China Life Insurance Company.

CapitaLand Retail China Trust fell 3.4 percent to 1.555 Singapore dollars. It reported second-quarter distribution per unit at 2.61 Singapore cents, down 4.4 percent from 2.73 Singapore cents in the same period last year. Its distributable income fell 2.5 percent to 22.4 million Singapore dollars in second quarter from 22.9 million Singapore dollars a year ago, while revenue was down 5.1 percent to 51.5 million Singapore dollars from 54.3 million Singapore dollars a year ago.

Among the top gainers, Jardine Cycle and Carriage rose 3.9 percent to 37.88 Singapore dollars, whereas Singapore Airlines became one of the top losers by sinking 0.7 percent to 11.12 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Endit