Singapore stocks end higher, clocking 18% gain in 2017

sgx trader
A trader looks at electronic screens on the dealing floor at DBS Bank's new headquarters in Singapore. REUTERS

Singapore shares ended the year on a positive note on Friday, tracking upward trend in other Asian shares, but gains were limited ahead of the New-Year holidays.

Asian shares were poised for a record close on the final trading day of 2017. The MSCI Asia Pacific Index is set for an annual gain of almost 29 percent, boosted by the region's world-beating growth.

Hong Kong led the charge with gains of 36 percent for the year, while South Korea notched up 22 percent and India 27 percent, Reuters data showed.

The Straits Times Index was up 0.11 percent or 3.8 points to 3,402. It ended 0.22 percent higher on Thursday, taking the year-to-date performance to about 18 percent.

Also Read: Apple apologizes for slowing down old iPhones, offers $29 battery replacements

Lenders such as DBS Group Holdings was up 0.1 percent, United Overseas Bank gained 1.3 percent while Oversea-Chinese Banking Corp lost 0.4 percent.

Electric services company C&G Environmental Protection Holdings jumped 25 percent after it entered into a deal with India's Param Mitra Coal Resources for a S$400 million reverse takeover.

Commodities trader Noble Group advanced 2.5 percent after its wholly-owned subsidiary, Noble Resources International acquired an additional 10 percent stake in Northern Mongolian Railways Ltd (NMRL) for US$1.4 million.

Other active stocks included, Sincap climbing 12 percent to S$0.02 while Disa jumped 15 percent to S$0.01.

About 1.1 billion shares worth S$1 billion changed hands, with gainers outnumbering losers 232 to 183.

This article was first published on December 29, 2017