Roundup: Singapore stocks end up 0.35 pct

Singapore shares closed 0.35 percent higher on Friday, as investors took comfort in reports that China's prolonged industrial deflation finally came to an end in September.

China's consumer price index rose 1.9 percent from a year earlier in September, while the producer price index gained 0.1 percent. The inflation figures beat market expectations, pointing to improved operating conditions for Chinese factory owners.

According to China's National Bureau of Statistics, stronger coal and metals prices were the main forces behind China's producer price gains.

Singapore's benchmark Straits Times Index rose 9.76 points to 2,815.24 points. Trading volume was 2.14 billion shares worth 1.14 billion Singapore dollars. Advancers outnumbered decliners 236 to 128, while 536 stocks did not move.

Lian Beng Group fell 1.1 percent to 46 Singapore cents. It reported first-quarter net profit of 13.5 million Singapore dollars, down 59.8 percent on-year. Its revenue for the three months to August 2016 fell 47.8 percent on-year to 70.8 million Singapore dollars, dragged down by the construction and ready-mixed concrete segments. Its cash level stood at 163.3 million Singapore dollars as at end of August, 2016.

Xpress Holdings ended flat at 72 Singapore cents. It will change its name to A-Smart Holdings following shareholders' approval at the company's extraordinary general meeting on Thursday.

The new A-Smart will expand its core businesses to include smart technologies, publishing and investment. The company will enter into the smart technologies business with an acquisition of 70 percent stake in Amplify Me, a developer of e-commerce applications, web-portals and online platforms.

Among top gainers, Jardine Cycle and Carriage rose 2.9 percent to 41.17 Singapore dollars, whereas Great Eastern Holdings became one of the top losers by falling 1 percent to 20.40 Singapore dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit