Singapore stocks end up 0.69%

Singapore shares closed 0.69 percent higher on Tuesday, as investors began to buy stocks in the morning following fall in Wall Street overnight.
US stocks fell as strong greenback pushed commodities from oil to copper and gold lower. Investors continued to grapple with rising expectations of interest rate hike by the Federal Reserve at its December meeting which has strengthened the US dollar recently. Many commodities are priced in the US currency and become more expensive to global buyers as the currency strengthens. Investors were also concerned about weak global demand and oversupply for commodities.
Singapore's benchmark Straits Times Index rebounded 20 points to 2923.49 points. Trading volume was 1.29 billion shares worth 825 million Singapore dollars. Advancers outnumbered decliners 207 to 169, while 551 stocks did not move.
Among top actives, Noble Group dropped 1.2 % to 40.5 Singapore cents. Standard & Poor's (S&P) joined Moody's Investors Service in reviewing the commodities trader's ratings amid concern about its liquidity. S&P said it is placing Noble's BBB- rating, the lowest investment-grade debt score, on review with negative implications. Noble responded it was confident it would be able to bolster its balance sheet, allowing it to remain investment-grade and deliver further improvements this quarter.
KLW Holdings sank 14.3 percent to 0.6 Singapore cents. It announced late Monday that it is under investigation by the Singapore's Commercial Affairs Department (CAD) for alleged offence under the Securities and Futures Act (SFA). CAD interviewed the group's head of operations, human resources and former managing director.
Among the top gainers, Jardine Strategic rose 1.9 percent to 28.05 U.S. dollars, whereas Riverstone Holdings Limited became one of the top losers by falling 2 percent to 2.41 Singapore dollars. (1 U.S. dollar equals to 1.41 Singapore dollars)