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Singapore stocks end up 0.43 pct

Xinhua, January 27, 2017 Adjust font size:

Singapore shares closed 0.43 percent higher on Friday, as rising risk appetite boosted buying ahead of long Lunar New Year holidays.

Many parts of Asian markets will be shut for the Lunar New Year holiday next week. Singapore stock market will resume trading on Jan. 31.

U.S. markets continued to hit intraday highs overnight, with the benchmark Dow Jones Industrial Average rising to a record close after breaching 20,000 points.

Singapore's benchmark Straits Times Index rose 13.07 points to 3,064.85 points. Trading volume was 866 million shares worth 585 million Singapore dollars. Advancers outnumbered decliners 172 to 144, while 781 stocks did not move.

Keppel Corporation lost 1.9 percent to 6.27 Singapore dollars. It reported a 49 percent on-year drop in net profit to 784 million Singapore dollars for the financial year 2016, the lowest annual profit in a decade. Its full-year revenue fell 34.3 percent to 6.8 billion Singapore dollars. The drop was largely due to lower contributions from offshore and marine as well as additional provisions for impairment during the year.

Frasers Hospitality Trust inched up 0.8 percent to 66.5 Singapore cents. It declared a distribution per share (DPS) of 1.3258 Singapore cents for the quarter ended December 2016 which is 18.9 percent lower than a year ago. But its gross revenue and net property income (NPI) for the quarter rose 26.1 percent and 15.9 percent year-on-year to 39.6 million Singapore dollars and 30.5 million Singapore dollars respectively. The higher gross revenue and NPI were boosted by the addition of Novotel Melbourne on Collins and Maritim Hotel Dresden as well as the better performance of the Sydney properties and ANA Crowne Plaza Kobe.

Among top gainers, Jardine Matheson rose 1.4 percent to 61.48 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 0.7 percent to 41.87 Singapore dollars. (1 U.S. dollar equals to 1.43 Singapore dollars) Endit