Singapore stocks end up 1.71%

Singapore shares closed 1.71 percent higher on Monday, taking positive cues from the Wall Street and the Asian markets.

Singapore's benchmark Straits Times Index jumped 47.82 points to 2,851.74 points. Trading volume was 1.16 billion shares worth 933 million Singapore dollars. Advancers outnumbered decliners 278 to 133, while 496 stocks did not move.

Among top actives, Jasper Investments closed flat at 0.4 Singapore cents. The investment holding company has announced it reached an in-principal understanding with Guangdong Zhuhai City LuYuan Construction Engineering to manage certain aspects for its infrastructural projects in China, which involve the marine transportation of aggregates in the Pearl River Delta Region, as well as reclamation works off Sanya in connection with the construction of the new Hainan International Airport.

Oxley Holdings shed 1.1 percent to 43 Singapore cents. The property developer announced its subsidiary, Oxley Zhong Xin Yi (Chongqing), has entered into a strategic cooperation framework agreement with China's Chongqing Liangjiang New Area Administrative Committee to develop an integrated medical hub in the Chongqing Liangjiang New Area. It said it intends to enter into further definitive agreements for such purposes by December 31 this year.

Among top gainers, Jardine Matheson rose 3.1 percent to 62.50 U.S. dollars, while Venture Corporation became one of the top losers by falling 1 percent to 9.24 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollar)

Source : XINHUA