SINGAPORE, Jan. 13 (Xinhua) -- Singapore shares closed 1.07 percent higher on Friday, as investors looked forward to U.S. President-elect Donald Trump's growth-boosting measures when he takes office.
Many investors remained hopeful that markets would get a lift from a wave of financial deregulation that could follow Trump's inauguration, including a rollback of some of the financial regulations that Congress enacted after the financial crisis and bank bailouts.
Singapore's benchmark Straits Times Index rose 32.07 points to 3,025.07 points. Trading volume was 1.7 billion shares worth 1.11 billion Singapore dollars. Advancers outnumbered decliners 239 to 198, while 654 stocks did not move.
ST Engineering ended flat at 3.34 Singapore dollars. It announced that its electronics arm, ST Electronics, secured about 695 million Singapore dollars worth of contracts in fourth quarter of 2016. This brought the value of new orders secured in 2016 to 2.33 billion Singapore dollars.
Rail electronics and intelligent transportation contracts of about 71 million Singapore dollars were secured from local and overseas customers. In the area of satellite and broadband communications, contracts amounting to 95 million Singapore dollars were received from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations.
In addition, about 529 million Singapore dollars worth of advanced electronics and information communications technology contracts were clinched from both public and private sectors. Among them were contracts for intelligent security management system, operations as well as maintenance support, development of electronics modules and engineering services for government agencies. These projects will be completed progressively till 2023.
Among top gainers, Jardine Cycle and Carriage rose 3 percent to 41.92 Singapore dollars, whereas Great Eastern Holdings became one of the top losers by falling 0.6 percent to 20.48 Singapore dollars. (1 U.S. dollar equals to 1.43 Singapore dollars)
