On 02/May, Singapore shares ended higher helped by upbeat manufacturing data in the U.S. and China.

STI ended higher at 3006.14 (0.9%) with HIGH VOL of 3.29 billion shares traded compared with 2.36 billion shares Monday. In the broader market, gainers outnumbered losers 305 to 127. Today STI undergo heavy buying pressure as investors buy on the broad-based rally.

Headline in STI

Before market close

The Australian arm of Singapore Telecommunications Ltd. (SGAPY), Optus plans to cut about 750 jobs in a restructure of the business which expects a one-time charge of about 37 million Australian dollars (US$38.2 million) relating to the job cuts.

After market close

Cosco Corp. (Singapore) Ltd. (F83.SG) has secured a contract worth over US$200 million to build a semi-submersible accommodation vessel.

The G6 alliance of container shipping firms, which includes Singapore-listed Neptune Orient Lines Ltd.’s (N03.SG) ...