Singapore shares make slight gains

Singapore shares closed 0.33 percent higher on Wednesday on hopes of an economic rebound, dealers said. The Straits Times Index added 7.16 points to 2,185.29. Volume totalled 3.81 billion shares worth 2.32 billion Singapore dollars (1.6 billion US) and there were 363 rising issues, 193 losers and 650 even.
"At the moment, it still seems the gains are sustainable," said a trader at a bank-backed brokerage. "A sharp pullback is not likely because there's so much liquidity in the market, but the market is looking a little bit tired."
Singapore Telecommunications was among the losers, falling one cent to 2.72 dollars while Singapore Airlines rose 20 cents to 12.12. Among the banks, DBS lost 10 cents to 11.40, United Overseas Bank added 46 cents to 14.58 and Oversea-Chinese Banking Corp fell 22 cents to 6.85. Property developer CapitaLand put on six cents to 3.20 and Keppel Land gained four cents to 2.14.