Singapore stocks end up 0.91 pct

Singapore shares closed 0.91 percent higher on Wednesday, after U.S. markets closed fresh record highs overnight.

U.S. stock prices ended higher on Tuesday, lifted by strong earnings reports from Wal-Mart and Home Depot. The indices were further supported by Federal Reserve officials' hawkish comments that a March rate hike was on the table. Investors are waiting on the Federal Reserve's last policy meeting minutes due later in the day for fresh hints on the central bank's stance towards interest rates.

Singapore's benchmark Straits Times Index rose 28.01 points to 3,122.20 points. Trading volume was 2.59 billion shares worth 1.47 billion Singapore dollars. Advancers outnumbered decliners 290 to 196.

CNMC Goldmine Holdings rose 3.8 percent to 41 Singapore cents. It reported a net loss of 1.9 million U.S. dollars for the fourth quarter ended December from net profit of 3.3 million U.S. dollars a year ago. This is mainly attributed to lower revenue and an unrealized foreign exchange loss in the quarter due to the depreciation of the Malaysian ringgit against the U.S. dollar. Its revenue also fell 44 percent to 5.2 million U.S. dollars in the quarter, from 9.3 million U.S. dollars a year ago.

Declout Limited advanced 1.7 percent to 17.9 Singapore cents. The technology company reported full-year net profit more than double to 7.8 million Singapore dollars, while revenue rose 8.8 percent to a record high of 304 million Singapore dollars. It attributed the strong performance to the group's information technology infrastructure services segment and the divestment gain of its subsidiary, Acclivis.

Among the top gainers, UOB rose 2.1 percent to 21.77 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 0.8 percent to 62.92 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit