Singapore stocks end up amid positive China manufacturing data

Singapore shares closed 0.26 percent higher on Friday, following the release of China's official purchasing manager index that showed the manufacturing sector of the country was still expanding.

China's official purchasing manager index came in at 50.4 in January, slightly lower than December's 50.6. A score above 50 indicates an expansion in manufacturing activity.

U.S. stocks edged lower on Thursday on caution ahead of the jobs report, but the benchmark Standard and Poor's 500 Index recorded its best January showing since 1997.

U.S. economic conditions are mixed, with initial weekly jobless claims rising off five-year lows to levels consistent with tepid job growth, while U.S. income growth surged in December as companies hurried to make dividend payments before higher tax rates set in.

SIAS Research said the weak lead from Wall Street overnight is likely to keep the local bourse in check. The research house expects the Straits Times Index to remain muted ahead of U.S. unemployment data out later Friday, with immediate support at 3, 270 points while resistance is at the psychological 3,300 points level.

Singapore's benchmark Straits Times Index rose 8.48 points to 3, 291.14 points. Trading volume was 3.23 billion shares worth 1.64 billion Singapore dollars. Advancers outnumbered decliners 256 to 205, while 500 stocks did not move.

OSIM International rose 2.8 percent to 1.85 Singapore dollars. The massage chair maker reported a 32.5 percent jump in fourth- quarter net profit to 22.6 million Singapore dollars from a year earlier, helped by higher revenue from new products.

STATS ChipPAC dropped 7.5 percent to 49 Singapore cents. The semiconductor test and advanced packaging service provider reported a 3.5 percent gain in fourth-quarter net profit to 971 million Singapore dollars compared to a year earlier. It cited strong demand for advanced packaging and test services for high- end smartphones and tablets.

Among top gainers, Great Eastern Holdings rose 5.5 percent to 17.90 Singapore dollars, while Jardine Matheson became one of the top losers by falling 0.6 percent to 64.41 U.S. dollars. (1 U.S. dollar equals 1.24 Singapore dollars)