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by Tan Shih Ming
SINGAPORE, July 15 (Xinhua) -- Singapore shares closed 0.63 percent higher on Friday, as latest economic data from China lifted risk appetite among stock investors.
China's economy grew 6.7 percent in the second quarter from a year earlier, steady from the first quarter and slightly better than market expectations as Beijing stepped up efforts to stabilize growth in the world's second-largest economy. China's industrial output and retail sales also beat forecasts, which helped alleviate fears of slowing momentum, though fixed-asset investment growth slipped and missed market expectations.
Singapore's benchmark Straits Times Index rose 18.43 points to 2,925.35 points. Trading volume was 2.22 billion shares worth 1.4 billion Singapore dollars. Advancers outnumbered decliners 238 to 200, while 466 stocks did not move.
Among top actives, Ezra Holdings fell 3 percent to 6.5 Singapore cents. It reported a net loss of 243 million U.S. dollars, of which 181 million U.S. dollars was related to one-off losses on disposal of its 50 percent stake in the subsea business. Stripping that out, its core losses were about 59 million U.S. dollars, which was an increase from 33 million U.S. dollars in core losses during second quarter.
China Everbright Water lost 0.8 percent to 65.5 Singapore cents. It has secured Ju County Shudong Waste Water Treatment Project in Rizhao City, Shandong Province. The project will be constructed on a Build-Operate-Transfer basis and has a designed daily waste water treatment capacity of 20,000 cubic meters with a concession period of 30 years. The total investment of the project is approximately 50 million Chinese yuan. The project is expected to complete construction and commence operation in 2017.
Among top gainers, Jardine Matheson rose 1.4 percent to 58.44 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 2.5 percent to 35.88 Singapore dollars. (1 U.S. dollar equals to 6.681 Chinese yuan and 1.34 Singapore dollars)
