Singapore stocks end up 0.83 pct

Singapore shares closed 0.83 percent higher on Wednesday, buoyed by higher close in Wall Street overnight.

Investors are awaiting the outcome of the U.S Federal Reserve's two-day meeting later on Wednesday. With the central bank largely expected to hold interest rates steady, the focus will be on the hints about future rate hikes.

Singapore's benchmark Straits Times Index rose 26.7 points to 3,237.81 points. Trading volume was 1.54 billion shares worth 1.22 billion Singapore dollars. Decliners outnumbered advancers 255 to 198.

Among top actives, Moya Asia surged 5.4 percent to 7.8 Singapore cents. It reported first-quarter net profit of 1.3 million Singapore dollars versus net loss of 1.7 million Singapore dollars a year ago, lifted by higher interest income and lower admin expenses. Its quarterly revenue soared 227 percent to 9.8 million Singapore dollars from higher percentage completion for the build-operate-transfer project and contribution of water sales in Tangerang, Indonesia.

Advancer Global jumped 10.6 percent to 36.5 Singapore cents. It proposed placement of 12.5 million new shares at 40 Singapore cents each, with a warrant attached for every two shares with exercise price at 45 Singapore cents, to MES Group. Post-allotment and full warrant exercise, share capital will be enlarged by 10.8 percent. Net proceeds of 4.8 Singapore dollars will be used for business expansion and working capital.

Among the top gainers, DBS Group Holdings rose 4.9 percent to 20.83 Singapore dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1 percent to 47.53 Singapore dollars. (1 U.S. dollar equals to 1.39 Singapore dollars) Endit