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Singapore shares finish higher - but only just
TRADING on Monday was mainly listless and cautious as traders waited for further developments in Germany surrounding the fate of Deutsche Bank. However a firm opening of Europe in the late afternoon which led to a 20-point rise in the Dow futures helped the Straits Times Index to a 1.37-point gain at 2,870.84.
Turnover was a poor one billion units worth S$613 million, one of the worst dollar totals this year. Excluding warrants there were 203 rises versus 167 falls.
Within the index Singtel stood out with a S$0.04 rise to S$4.01 on volume of 18 million that added about four points. Second liners in play included QT Vascular, SunMoon Food, Ying Li, Alliance Mineral and Cedar Strategic.
In Alliance Mineral's case, the company announced that metallurgical tests at its Bald Hill project in Western Australia have yielded encouraging results in that lithium is present in the ore at the site. The stock on Monday added S$0.003 at S$0.123 on volume of 43.4 million.
China property developer Ying Li was queried by the Singapore Exchange late last month. On Sept 25 it replied saying it did not know of reasons for the interest in its shares. However, it added there had been general media reports stating that China property prices have been rising. On Monday its shares inched S$0.004 up to S$0.147 with 21.5 million done.