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Singapore shares add 0.2% on Friday

CHINESE private manufacturing purchasing managers' index figures for February and US economic growth data for Q4 - both of which beat expectations - lifted the spirits of investors worried about the global economic outlook. 

Optimistic comments from White House economic adviser Larry Kudlow also lifted sentiment.

In Singapore, the Straits Times Index added 7.71 points or 0.2 per cent to close at 3,220.40.

However, investors were still cautiously waiting for further developments after the abrupt ending of the Trump-Kim summit in Vietnam, and updates on China-US trade talks while India-Pakistan relations were in their peripheral vision. This led to muted activity in Singapore.

Trading on the Singapore bourse clocked in at about 903.79 million securities worth S$972.67 million in total changing hands. Gainers outnumbered losers 209 to 190.

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In the last half an hour of trading on Friday, three married trades involving about 49 million shares in media company UnUsUaL Ltd were made with two of the trades at 25 Singapore cents per share and the other at 24.5 Singapore cents per share. Following the off-market transactions, UnUsUaL shares closed four Singapore cents or 15.4 per cent higher at 30 Singapore cents on 49.9 million shares.

Among STI constituents, casino operator Genting Singapore was the blue-chip index's most traded. It ended the session one Singapore cent or 1 per cent higher at S$1.03 with 25.5 million shares changing hands.

Among financials, DBS Group Holdings closed 24 Singapore cents or 1 per cent up at S$25.08, OCBC Bank added four Singapore cents or 0.4 per cent to S$11.10, while United Overseas Bank lost two Singapore cents or 0.1 per cent to close at S$25.00.

The Singapore Exchange welcomed Penang theme park developer Sim Leisure Group (SLG) to the Catalist board on Friday. However, shares in SLG opened at 17 Singapore cents - 22.7 per cent lower than its initial public offering price of 22 Singapore cents per share. SLG closed at 16.9 Singapore cents with 3.3 million shares traded.

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