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Singapore stocks end steady on Wall Street gains

The benchmark ST Index added 3.96 points, or 0.12 per cent, at 3,245.56 on turnover of S$670.1 million.

SINGAPORE: Singapore shares closed steady on Tuesday, supported by overnight gains on Wall Street

The benchmark ST Index added 3.96 points, or 0.12 per cent, at 3,245.56 on turnover of S$670.1 million.

Volume traded totalled 1.25 billion shares, as gainers beat losers 240 to 186.

Casino operator Genting Singapore added 2.67 per cent, or 3.5 cents, to S$1.345, while DBS bank eased 0.23 per cent to S$17.13.

On Monday, Genting Singapore -- the owner of Resorts World Sentosa -- reported a 77 per cent rise in first quarter net profit. Genting earned S$257.6 million in the three months ended March, up from S$145.4 million in the same period a year ago.

Tokyo, Hong Kong and Seoul were closed for public holidays.

On Wall Street, all three main indices advanced after the Institute for Supply Management said its purchasing managers index (PMI) for the US services sector rose to 55.2 in April from 53.1 in March.

It was the highest reading since last July and better than the 54.0 figure expected by analysts. A number above 50 indicates expansion in the sector, which accounts for the bulk of US economic activity.

Figures released Friday showed ISM's manufacturing-sector PMI rose for the 11th straight month in April, to a better-than-expected 54.9.

The Dow edged up 0.11 per cent, the S&P 500 added 0.19 per cent and the Nasdaq was 0.34 percent higher.

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