Singapore shares rose over a percent to end at a 4-year high on Thursday, led by transport and technology stocks, following a sharp fall in oil prices and a rally on Wall Street. Singapore Airlines rose about 2 percent to S$11.10 in response to Wednesday's more than $3 fall in crude oil futures after the United States reported higher-than-expected increases in distillate and gasoline inventories. Crude futures edged slightly higher in early European trade on Thursday .
The Straits Times Index rose 23.92 points, or 1.17 percent, to 2,062.76, a level not seen since November 2000. Overall, gainers led losers 282 to 122 in moderate volume of 580 million shares.
A near two percent rise on the Nasdaq Composite Index boosted Singapore's electronics manufacturers such as Creative Technology and Venture Corporation.
Chartered Semiconductor Manufacturing rose ahead of a quarterly business update by the world's largest chip maker, Intel Corp, due after the US market close on Thursday.
Index-heavy DBS Group Holdings rose after newspapers in Hong Kong reported that the bank was looking to launch a HK$2 billion real estate investment trust in Singapore which would bundle four to six shopping centres in southern China for a Hong Kong-based property developer.
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