Singapore shares trade in positive territory

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SINGAPORE (June 30): Singapore shares continued to post gains, against a backdrop of mixed performance from other Asian bourses. Meanwhile, mainland Chinese markets extended declines despite monetary easing measures undertaken by its central bank.

At 12:39pm (0439 GMT), the Straits Times Index climbed 1.21% to 3,319.93.

Market breadth was positive, with 214 gainers as compared to 131 decliners.

The Straits Times Index came off from its intraday peak of 3,324.37 and low of 3,281.30.

Volume amounted to 528.9 million shares worth $590.2 million changing hands.

Singapore Telecommunications, DBS Group Holdings, CapitaLand, United Overseas Bank, and Oversea-Chinese Banking Corporation were among the most active stocks in the market.

Among gainers, Del Monte Pacific surged 4.4% to 35.5 cents. This is in spite of the producer and distributor of food and beverage products posting a net loss of US$14.1 million ($19.03 million) in its fourth quarter ended April 30.

Ellipsiz Limited climbed 1.8% to 11.6 cents. The probe card and distribution & service solutions provider announced that its wholly-owned subsidiary Ellipsiz Singapore Pte Ltd was dissolved on June 29.

Among top decliners, MS Holdings plummeted 20.8% to 19 cents. The crane rental company reported last Friday that FY2015 net profit fell 37.5% to $2 million from $3.2 million a year ago, hit by depreciation expenses and one-off IPO related expenses.

Novo Group plunged 10.3% to 26 cents. The steel trader and tinplate manufacturer and processor saw its 4Q losses widen to US$11.3 million ($15.2 million) from US$6.5 million a year ago as revenue dropped nearly 70% to US$22.3 million. For the full year ended April, losses widened to US$20.6 million from US$13.2 million as revenue fell 8.8% to US$249 million.

Stocks that went ex-dividend today included Cheung Woh Technologies and Midas Holdings.