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Singapore stocks end up 0.78 pct

by June 6, 2016 General

SINGAPORE, June 6 (Xinhua) — Singapore shares closed 0.78 percent higher on Monday, after the U.S. nonfarm payrolls showed the slowest job growth in more than five years, dampening expectations for a near-term U.S. interest rate hike.

U.S. nonfarm payrolls rose by just 38,000 last month, the smallest increase since September 2010 and well shy of market in average expectations for a rise of 164,000. While waiting for Federal Reserve chair Janet Yellen’s speech in Philadelphia later on Monday, investors now expect the U.S. Federal Reserve to leave interest rates unchanged at its June 14 to 15 policy meeting.

Singapore’s benchmark Straits Times Index rose 22.05 points to 2,831.28 points. Trading volume was 860 million shares worth 809 million Singapore dollars.

Advancers outnumbered decliners 212 to 191, while 506 stocks did not move. YuuZoo Corporation Limited rose 1.8 percent to 17 Singapore cents. The social media marketing firm announced a partnership with SportsHero, a real-time fantasy sports app and social prediction platform. The deal allows 118 million YuuZoo users to use SportsHero’s social sports prediction platform, which includes daily, weekly, and monthly prizes.

Best World International jumped 7.4 percent to 1.305 Singapore dollars. Queried on last Friday by Singapore Exchange on unusual price movement in its shares, the healthcare and lifestyle products seller said it has no explanation for the sharp rise in its shares. The company rose a cumulative 12.13 percent last Thursday and Friday. In a reply filed over the weekend, Best World also confirmed its compliance with Singapore’s listing rules.

Among top gainers, Jardine Matheson rose 0.8 percent to 55.39 U.S. dollars, while Great Eastern Holdings became one of the top losers by falling 1.2 percent to 21.50 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars)