SINGAPORE, April 26 (Xinhua) -- Singapore shares closed 0.19 percent lower on Tuesday, as investors continued to wait for the outcome of U.S. Federal Reserve's policy decision.
While market has priced in a near-zero-percent rate hike in April's policy meeting, any small changes or a strong hawkish stance by Federal Reserve officials could catalyze volatility globally.
Meanwhile, crude oil futures continued to be volatile across the global markets. Brent crude futures recouped some losses in the Asian trading after worries about rising oil supplies in the U.S. sparked a selloff overnight. Brent crude was trading near 45 U.S. dollars per barrel.
DBS Group Research said "we peg a range of 2,800 points to 2,965 points in the month ahead with support along the way at 2,860 points. Immediate resistance is seen at 2,930 points."
Singapore's benchmark Straits Times Index rose 5.62 points to 2,894.66 points. Trading volume was 848 million shares worth 963 million Singapore dollars. Advancers outnumbered decliners 207 to 190, while 514 stocks did not move.
Raffles Medical rose 0.7 percent to 4.58 Singapore dollars. Its first-quarter net profit registered a growth of 3.7 percent to 15.5 million Singapore dollars, while revenue grew by 23 percent on-year to 116.9 million Singapore dollars. The strong growth in revenue was equally helped by recent acquisitions, as well as contributions from its Healthcare Services and Hospital Services divisions.
Frasers Commercial Trust rose 0.4 percent to 1.305 Singapore dollars. Rating agency Moody's upgraded the office and retail asset trust to Baa2 from Baa3 after seeing a "sustained strengthening" of its financial profile. Moody's noted that the trust's leverage ratio has show steady improvement, and expected predictable cash generation from the Trust's properties which were supported in turn by steady occupancy and manageable lease expiries.
Among the top gainers, CapitaMall Trust rose 2.4 percent to 2.14 Singapore dollars, whereas Jardine Strategic became one of the top losers by falling 2.2 percent to 29.60 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars)