Singapore shares closed higher yesterday with the blue-chip Straits Times Index up 4.25 points to 2,933.39. Volume was 1.44 billion shares worth $1.26 billion. Gainers led losers 268 to 226. US stocks rose in a slow session last night on data showing more stabilisation in the economy, while Apple rallied on a report that it was developing a new iPhone. Here are some stocks and factors to watch, according to The Edge Singapore:

DBS agreed to sell its 37.5% stake in Cholamandalam DBS Finance to its partner, Chennai-based Murugappa Group, in a deal worth 3.76 billion rupees ($117 million). DBS said its exit from the mass market financial services provider was part of its strategy to focus on corporate clients in India, high net-worth individuals and emerging affluent segments.

Singapore Exchange will delist five companies which are on its watch list. The companies are: General Magnetics; Chuan Soon Huat Industrial Group; ASA Group Holdings; Fastech Synergy; and Ionics EMS Inc. The companies have registered financial losses for at least five successive years. They were placed on the watch list two years ago after recording at least three consecutive years of losses.

Fortune Real Estate Investment Trust (Fortune Reit) said today its units are expected to trade on the main board of The Stock Exchange of Hong Kong on April 20.

Cosco Corp. Singapore said Temasek Holdings, the state-owned invesment company, was no longer a major shareholder, with a stake of less than 5%, according to a statement. Companies related to Temasek, including Singapore Airlines, had cut or eliminated their stakes since 2008, the statement said.

Tianjin Zhong Xin Pharmaceutical Group says the net profit after tax attributable to equity holders in FY2009 was RMB 270 million ($55.3 million), an increase of 48%, from the corresponding period in FY2008. Group turnover in FY09 was RMB 2,881 million, an increase of 22% from RMB2,365 million in FY2008.

PricewaterhouseCoopers LLP, the auditor of Celestial Nutrifoods, says the company’s current liabilities exceeded its current assets by RMB448 million ($91.7 million), mainly due to the redemption payment obligations in relation to the $235 million zero-coupon convertible bonds with carrying amount of RMB1.38 billion.