Singapore stocks end almost flat

Singapore shares closed 0.01 percent higher on Friday, buoyed by news that Janet Yellen moved one step closer to the top job at the Federal Reserve and the U.S. Dow Jones index closed above 16,000 points overnight for the first time. The Senate Banking Committee voted to approve Ms. Yellen's nomination to become Fed chairman next year -- a move considered market positive as she is expected to leave the central bank's easy monetary policy little changed. CIMB Research said "prices should climb and take out 3,230 points on the way up to test 3,300 points and 3,340 points." Singapore's benchmark Straits Times Index inched up 0.47 points to 3,172.85 points. Trading volume was 1.23 billion shares worth 772 million Singapore dollars. Decliners slightly outnumbered advancers 188 to 185, while 584 stocks did not move. Among top actives, KLW Holdings rose 3.6 percent to 2.9 Singapore cents. It has secured 3 contracts worth a total of 6.4 million Singapore dollars for residential project developments in Singapore. Biosensors International jumped 4.3 percent to 98 Singapore cents. Shandong Weigao Group Medical Polymer Co Ltd said on Friday it would sell its entire 21.7 percent stake in medical device maker Biosensors International at 1.05 Singapore dollars per share for 312.3 million U.S. dollars to focus on its main businesses. Rex International rose 2.4 percent to 63 Singapore cents. It will be investing 20 million U.S. dollars for a 67 percent stake in Rexonic, which will own a proprietary environmentally-friendly, high-power ultrasound technology for commercial oil well stimulation developed by Swiss partner Ogsonic AG. This technology is intended to replace traditional chemical methods and has been shown to increase oil production both onshore and offshore. LionGold Corporation gained 6.2 percent to 18.8 Singapore cents. Its partially owned Ghana gold mining unit, Owere Mines, has entered into an agreement with Australia's B&C Gold to purchase and process gold-bearing waste tailings. Among top gainers, Keppel Corporation rose 0.5 percent to 11.16 Singapore dollars, while Jardine Matheson became one of the top losers by falling 1.8 percent to 52.06 U.S. dollars. (1 U.S. dollar equals to 1.25 Singapore dollars)