Roundup: Singapore stocks end up 0.25 pct

Singapore shares closed 0.25 percent higher on Friday, but trading was thin amid lack of fresh catalyst.

The uncertainty over the U.S. interest rate outlook weighed on market sentiment. Investors will watch closely the U.S. Federal Reserve's Jackson Hole symposium scheduled next Friday for clues on the timeline of interest rate hike.

Meanwhile, oil prices remained steady on expectations of revived talks by key exporters to freeze output levels. Global benchmark Brent crude hovered near 51 U.S. dollars a barrel, after climbing as much as 2.4 percent to an eight-week high of 51.05 U.S. dollars on Thursday. U.S. crude also extended gains to above 48 U.S. dollars a barrel.

Singapore's benchmark Straits Times Index inched up 7.04 points to 2,844.02 points. Trading volume was merely 739 million shares worth 696 million Singapore dollars. Advancers outnumbered decliners 222 to 172, while 513 stocks did not move.

CapitaLand Retail China Trust fell 0.3 percent to 1.60 Singapore dollars. It has entered into an agreement to acquire Galleria, a shopping mall in Chengdu of Sichuan, for 1.5 billion Chinese yuan. The mall is strategically located in the Xinnan Tiandi retail precinct of Gaoxin District in the south of Chengdu, one of the most established shopping belts in the city. This will be the trust's eleventh mall and its first in Chengdu.

Yanlord Land rose 3.6 percent to 1.29 Singapore dollars. Moody's Investors Service has placed Yanlord's Ba3 corporate family and senior unsecured ratings on review for upgrade. The review is prompted by Yanlord's stronger performance and credit profile when compared to the parameters for its Ba3 ratings.

Among top gainers, Jardine Matheson rose 0.7 percent to 60.50 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 2.2 percent to 43.89 Singapore dollars. (1 U.S. dollar equals to 6.651 Chinese yuan and 1.35 Singapore dollars) Endit