SINGAPORE: Shares in Singapore closed higher on Thursday following overnight gains on Wall Street.
Dealers said China’s mini-stimulus package also helped lift sentiment.
China on Wednesday unveiled a package, which included spending on railways, upgraded housing for low-income households, and tax relief for struggling small businesses.
The Straits Times Index rose 27.28 points, or 0.85 per cent, to end at 3,220.06.
Advancing issues outnumbered decliners 261 to 189, and volume totalled 2.2 billion shares valued at S$1.45 billion.
Shares of Noble Group extended gains, rising over 4%, or 6 cents, to S$1.315, on news that the commodities trading company is selling a 51% stake in its agriculture division to China’s COFCO.
An analyst said the move reduces the company’s net debt significantly and sharpens its focus on its energy, metals, minerals and ores business.
An investigation into suspected trading irregularities related to the stock of three small-cap companies — Asiasons Capital, Blumont Group and LionGold Corp — created a minor sideshow.
Shares of LionGold slumped over 17 per cent, or 2.6 cents, to 12.2 cents after the company said two of its executives were being investigated by Singapore’s Commercial Affairs Department.
Blumont and Asiasons were suspended from trading.
Singapore shares close higher
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