SINGAPORE, Sept. 5 (Xinhua) -- Singapore shares closed 0.53 percent higher on Thursday, as higher close in Wall Street overnight and improvement on robust services data from China boosted market sentiment.
U.S. markets rose on Wednesday after a number of U.S. Federal Reserve officials all toed the line that rate-cuts are coming.
Maybank-Kim Eng Retail Research said technically, the Strait Times Index could test immediate resistance at 3,155 points before heading for the next objective at 3,190 points. Underlying support is now reset at 3,085 points.
Singapore benchmark Strait Times Index rose 16.49 points to 3,147.06 points. Trading volume was 738 million shares worth 1.02 billion Singapore dollars. Advancers slightly outnumbered decliners 191 to 190.
Among top actives, Yangzijiang Shipbuilding rose 2.7 percent to 96.5 Singapore cents. The shipbuilder secured new order contracts for five new vessels comprising three 82,000 deadweight tons (dwt) bulk carriers and two 325,000 dwt bulk carriers. Together with an earlier contract in August, Yangzijiang has signed new contracts for seven vessels worth 395 million U.S. dollars in third quarter of 2019. The management guides that there has been a surge of enquiries as ship owners rush to meet IMO2020 emission rules and hopes to ride on the momentum. Its order book stood at 3.1 billion U.S. dollars as at June 2019.
Among top gainers, Jardine Matheson rose 1 percent to 55.80 U.S. dollars, while Hong Kong Land became one of the top losers by falling 2.4 percent to 5.75 U.S. dollars. (1 U.S. dollar equals to 1.39 Singapore dollars)
