Arab Today, arab today singapore stocks end up 03
Last Updated : GMT 21:55:53
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Arab Today, arab today

Singapore stocks end up 0.3%

Arab Today, arab today

Arab Today, arab today Singapore stocks end up 0.3%

Singapore - XINHUA

Singapore shares closed 0.3 percent higher on Monday, as a surprise surge in U.S. jobs growth signaled the world's largest economy was on a firmer footing. U.S. employers took on 204,000 new employees last month, almost twice the number forecast by analysts and defying expectations that the partial U.S. government shutdown would hamper job growth. The strong data raised the prospect the Federal Reserve may soon decide to start winding down its 85 billion U.S. dollars-a- month bond-buying program. Adding to the positive sentiment, China's factory output and investment data pointed to signs of stabilization in the economy, though annual inflation climbed to an eight-month high in October, fueling market worries about policy tightening. CIMB Research said "we expect lower prices ahead. The immediate resistance at 3,235 points should stand for now." It added the most probable target would just below the 3,100 points mark. The benchmark Straits Times Index rose 9.47 points to close at 3,186.72 points. Trading volume was 1.68 billion shares worth 832 million Singapore dollars. Decliners outnumbered advancers 238 to 193, while 522 stocks closed unchanged. Wilmar International Limited rose 2.1 percent to 3.45 Singapore cents. It has formed a new joint venture with Tereos in a China- incorporated company named Liaoning Yihai Kerry Tereos Starch Technology. The joint venture company will engage in the operation of a corn starch facility in Tieling of Liaoning Province. CSC Holdings closed flat at 10.1 Singapore cents. It has been awarded a contract for the construction of foundations as well as a two-story basement for the new development, Bora Residences at Tropicana Danga Bay in Iskandar, Johor of Malaysia. Chasen Holdings dropped 2 percent to 18 Singapore cents. It is proposing to undertake a renounceable non-underwritten rights issue of up to 112 million Warrants, at an issue price of 1 Singapore cent for each Warrant. Each Warrant carries the right to subscribe for one new share at an exercise price of 12 Singapore cents, on the basis of four Warrants for every ten existing share held. Among the top gainers, Jardine Cycle and Carriage rose 1.4 percent to 36.16 Singapore dollars, while Super Group became one of the top losers by falling 4.8 percent to 4.15 Singapore dollars. (1 U.S. dollar equals to 1.25 Singapore dollars)

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