Singapore stocks end almost flat

Singapore shares closed 0.07 percent higher on Monday, boosted by the latest Singapore growth data. Singapore's economy grew at a better-than-expected pace in the second quarter and the government raised the city state's outlook for the year on expectations of a gradual pickup in global growth in coming months. Phillip Securities Research said "we expect the Straits Times Index to consolidate at current levels, with key near term support at 3,200 points levels." CIMB Research said moving above 3,277 points would likely delay the potential large decline by a week or two, but closing below 3, 218 points would confirm the larger downtrend which will send prices to below 3,065 points. SIAS Research said with the lack of market catalysts and amid ongoing worries over the Federal Reserve's stance on monetary tapering, the Straits Times Index will range between 3,200 points and 3,270 points. The benchmark Straits Times Index rose 2.33 points to close 3, 232.24 points. Trading volume was 2.43 billion shares worth 1.34 million Singapore dollars. Advancers outnumbered decliners 245 to 186, while 525 stocks closed unchanged. Among top actives, Noble Group shed 1.6 percent to 90 Singapore cents. The Singapore-listed commodities trader's second-quarter net profit fell 68 percent, with results weighed on by a loss in its agricultural division and a drop in overall margins. Vard Holdings gained 6 percent to 88.5 Singapore cents. The offshore support vessel builder has secured contracts with DOF Subsea AS and Technip for design and construction of four pipe lay support vessels for approximately 1.1 billion U.S. dollars. Yoma Strategic Holdings rose 1.8 percent to 83 Singapore cents. It said its wholly owned subsidiary, SPA Project Management Limited, has succeeded in a tender to upgrade and operate the Mandalay International Airport in a consortium with Mitsubishi Corporation and JALUX. Yoma will hold a 5 percent interest in the joint venture through its subsidiary. UOL Group inched up 0.2 percent to 6.66 Singapore dollars. The property firm said its net profit in the quarter ended June 30 more than doubled from a year earlier to 431.4 million Singapore dollars on higher fair value gains recognized for the investment properties of the company. Among the top gainers, Jardine Matheson rose 1.7 percent to 54. 90 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 1 percent to 40.08 Singapore dollars. (1 U.S. dollar equals to 1.26 Singapore dollars)