Roundup: Singapore stocks end up 0.4 percent

Singapore shares closed 0.4 percent higher on Tuesday as investors continued to buy stocks ahead of mid-week holiday.

Singapore bourse will be closed on Wednesday for a Buddhist holiday. U.S. stocks ended mixed overnight and European equities fell as an Emmanuel Marcon victory in French Presidential election was seen as largely priced in. Investors now are searching for the next catalyst following the election.

Meanwhile, oil prices rose from a near-six-month low hit last week, lifted by statements from major oil producing countries that supply cuts could be extended into 2018.

Singapore's benchmark Straits Times Index rose 12.99 points to 3,249.97 points. Trading volume was 2.22 billion shares worth 1.36 billion Singapore dollars. Decliners outnumbered advancers 235 to 222.

OCBC Bank rose 1.6 percent to 10.46 Singapore dollars. It reported first-quarter net profit rose 14 percent on-year to 973 million Singapore dollars on strong non-interest income from wealth management, investment banking, life assurance and trading. But its net interest income slipped 3 percent to 1.27 billion Singapore dollars, as 5 percent loan growth was eclipsed by net interest margin compression to 1.62 percent.

Fraser and Neave Limited inched down 0.8 percent to 2.38 Singapore dollars. It reported net profit slumped 67.1 percent to 3.8 million Singapore dollars for the quarter ending March. Its quarterly revenue also slid 5.8 percent to 451.3 million Singapore dollars, mainly dragged by reduced beverage sales from Singapore and Malaysia due to weak consumer sentiment.

Among top gainers, Jardine Matheson rose 0.5 percent to 63.66 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1.7 percent to 46.14 Singapore dollars. (1 U.S. dollar = 1.41 Singapore dollars) Endit