Singapore shares closed 0.11 percent higher on Monday, but trading was quiet partly due to investors shifting funds from emerging markets to Europe and the United States.
Investors will monitoring closely China's official purchasing managers index which will come out Wednesday, while in the United States, Thursday's Institute of Supply Management manufacturing report will provide a checkup on the health of manufacturing in the world's largest economy. Meanwhile, On Tuesday, Singapore together with Australia and China's Hong Kong will be among the markets that will trade for just half a day.
Phillip Securities Research said price has cycled up to resistance at 3,126 points, with next resistance at 3,170 points while immediate supports at 3,000 points and 2,930 points.
The benchmark Straits Times Index rose 3.53 points to close at 3,153.29 points. Trading volume was 2.80 billion shares worth only 699.2 million Singapore dollars. Advancers slightly outnumbered decliners 253 to 181, while 525 stocks closed unchanged.
Changjiang Fertilizer Holdings jumped 57.1 percent to 4.4 Singapore cents. Its wholly-owned subsidiary Changjiang Huafei ( Hunan) has entered into a memorandum of understanding with Yueyang City Xinsheng Fuhefei in relation to a potential acquisition of the Xinsheng Fuhefei's business assets involving the production of compound fertilizers. The consideration payable for the Acquisition is approximately 136.73 million Chinese yuan.
OKP Holdings Limited gained 3 percent to 34.5 Singapore cents. It announced that the tender for improvement to roadside drains at eastern part of Singapore by the Company's wholly-owned subsidiary, Eng Lam Contractors, had been accepted by Singapore's Public Utilities Board. The amount of the Contract is 4 million Singapore dollars.
Among the top gainers, Jardine Matheson rose 0.3 percent to 32. 13 U.S. dollars, while Keppel Corporation became one of the top losers by falling 0.7 percent to 11.10 Singapore dollars. (1 U.S. dollar equals to 6.063 Chinese yuans and 1.27 Singapore dollars)