Singapore stocks end up 0.1 pct

Singapore shares closed 0.1 percent higher on Tuesday, as investors waited for the U.S. Federal Reserve's meeting that begins later in the day.

The Federal Reserve is widely expected to raise interest rates for the first time this year at a two-day meeting, with markets pricing in a quarter percentage point increase to the target range of 0.25 to 0.50 percent.

But investors are most interested in the Federal Reserve's statement and economic projections, which will be examined for any signs of reaction to Donald Trump's victory in U.S. presidential election.

Singapore's benchmark Straits Times Index rose 3.04 points to 2,955.23 points. Trading volume was 2.34 billion shares worth 1.12 billion Singapore dollars. Decliners outnumbered advancers 235 to 190, while 671 stocks did not move.

Fraser and Neave inched up 0.5 percent to 2.10 Singapore dollars. It has acquired an additional 5.4 percent stake in Vietnam Dairy Products Joint Stock Company, or Vinamilk, for 709 million Singapore dollars. This will boost its stake in Vinamilk to 16.35 percent. Vinamilk makes dairy products including powdered, liquid and condensed milk and yoghurt, as well as beverage like soya milk, fruit juice and tea.

Frasers Centrepoint Limited closed flat at 1.545 Singapore dollars. Frasers Hospitality Group, a division of Frasers Centrepoint, has launched North Park Place, a 105-unit luxury serviced residence located within the exclusive Rajpruek Golf Club in Bangkok, Thailand. This premium serviced residence, managed by Frasers Hospitality Group, offers a selection of one and two-bedroom fully-serviced apartments.

Among the top gainers, Jardine Matheson rose 0.6 percent to 54.98 U.S. dollars, whereas Keppel Corporation became one of the top losers by falling 0.6 percent to 6.24 Singapore dollars. (1 U.S. dollar equals to 1.43 Singapore dollars) Endit