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1st LD Writethru: Singapore stocks end up 0.06 pct

Xinhua, March 31, 2017 Adjust font size:

Singapore shares closed 0.06 percent higher on Friday, buoyed by strong China's manufacturing data.

Official survey showed activity in China's manufacturing sector expanded to 51.8 in March, beating market expectations for 51.6. The services sector also rose to 55.1 from 54.2 in February. The 50-point mark separates growth from contraction.

However, market mood was a little cautious after U.S. President Donald Trump tweeted overnight that the U.S. could no longer tolerate massive trade deficits and job losses.

Singapore's benchmark Straits Times Index inched up 1.87 points to 3,175.11 points. Trading volume was 2.60 billion shares worth 1.63 billion Singapore dollars. Decliners outnumbered advancers 255 to 226.

Frasers Centrepoint Limited rose 0.3 percent to 1.735 Singapore dollars. It proposed to issue second tranche of 52 million Singapore dollars in principal amount of 4.15 percent fixed rate notes due 2027. The notes will be issued under the 5 billion Singapore dollars multicurrency debt issuance program. The net proceeds arising from the issuance of the notes will be used for general corporate purposes, including refinancing the existing borrowings, financing investments and general working capital and capital expenditure requirements.

TA Corporation has no trading on Friday. It is proposing to undertake a renounceable underwritten rights issue of up to 120.6 million warrants at an issue price of 0.3 Singapore cents for each warrant, on the basis of one warrant for every four existing shares held. Each warrant will entitle the holder to subscribe for one new share at an exercise price of 28 Singapore cents for each new share. The net proceeds will be used for the TA Corporation's general working capital purposes.

Among top gainers, DBS Group Holdings rose 0.5 percent to 19.40 Singapore dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1.2 percent to 43.86 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit