1st LD Writethru: Singapore stocks end up 0.35 pct

Singapore shares closed 0.35 percent higher on Wednesday, as bargain-hunting emerged amid geopolitical tensions in the Korean peninsula and the Middle East.

U.S. Secretary of State Rex Tillerson was in Moscow to denounce Russian support for Syria's Bashar al-Assad, raising the stakes in the Middle East.

Singapore's benchmark Straits Times Index rose 11.26 points to 3,186.01 points. Trading volume was 2.37 billion shares, worth 1.39 billion Singapore dollars. Advancers slightly outnumbered decliners 236 to 228.

Oxley Holdings rose 2.6 percent to 60 Singapore cents. It announced that it acquired properties in the Mediterranean island resort of Cyprus through Oxley Planetvision Properties, a 50 percent-owned joint venture company, for 42 million Singapore dollars. It acquired the entire issued share capital of Flitous Properties and Jemina Properties from seller Bank of Cyprus.

Incorporated in Cyprus, Flitous Properties and Jemina Properties are the owners of certain properties located in the District of Limassol, Cyprus, with total area of 70,771 square meters and 25,677 square meters respectively.

Imperium Crown advanced 1.4 percent to 7 Singapore cents. The property developer and property investment company has received letters of intent for the remaining two properties within its Japanese property portfolio, namely Green Forest Itabashi and Hatchobori Place properties, for a total sale price of 38.6 million Singapore dollars.

It said the sale of its Japanese property portfolio, when fully completed, will strengthen the company's cash and financial position and enable it to move forward with its proposed business plans in the coming years.

Among the top gainers, Jardine Matheson rose 0.3 percent to 65.90 U.S. dollars, whereas Singapore Telecommunications became one of the top losers by falling 1.5 percent to 3.82 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit