Singapore shares closed 0.85 percent higher on Thursday, as upbeat U.S. data underpinned performance of U.S. stocks overnight.
The Standard and Poors' 500 Index closed at an all-time high on Wednesday as U.S. investors cheered another set of solid private- sector jobs and factory orders data.
According to payroll processor Automatic Data Processing, U.S. private-sector payrolls increased by 191,000 new jobs in March, bolstering expectations for a strong U.S. non-farm payrolls report on Friday.
The benchmark Straits Times Index rose 27.28 points to close at 3,220.06 points. Trading volume was 2.21 billion shares worth 1.45 billion Singapore dollars. Advancers outnumbered decliners 261 to 189, while 494 stocks closed unchanged.
Phillip Securities Research said "if price can stay above 3,150 points, it implies further upside. Short term resistance levels are at 3,180 points followed by 3,270 points."
But Voyage Research said "we expect the local market to continue consolidating for this week. We set the support at 3,150 points."
Global Logistic Properties gained 1.5 percent to 2.63 Singapore dollars. It has signed two lease agreements, for space totaling 13, 000 square meters, with China National Pharmaceutical Group ( Sinopharm) in an expansion of their partnership. The leases, for 7, 000 square meters in Shanghai and 6,000 square meters in Suzhou, are part of Sinopharm's plans to enhance distribution capability in eastern China.
Biosensors International inched up 0.5 percent to 93 Singapore cents. It and Terumo Corporation announced an extension of their existing licensing agreements and an expansion of their sales collaboration in Japan, with regard to Terumo's drug-eluting stent Nobori.
Jason Holdings closed flat at 56 Singapore cents. It is proposing a share split of every one share in the capital of the Company into two shares. Upon the completion of the Proposed Share Split, the Company shall have an issued and paid-up share capital of 9.1 million Singapore dollars comprising 216 million shares.
Among the top gainers, Jardine Cycle and Carriage rose 3.1 percent to 47.20 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.2 percent to 62.35 U.S. Singapore dollars. (1 U.S. dollar equals to 1.26 Singapore dollars)