Singapore share prices closed 0.4 percent up on Monday lifted by gains in oil-related stocks after Nymex crude futures touched new highs, dealers said. The Singapore Straits Times index rose 9.34 points to 2,348.21.
Volume traded totalled 781 million shares worth 757 million Singapore dollars (458 million US), down from 1.029 million shares worth 1.067 billion dollars on Friday.
There were 290 rising issues, 209 losers and 504 issues were even.
As Nymex crude futures surged to set new highs, investors snapped up oil-related stocks on hopes of an earnings bonanza from strong demand for petroleum, dealers said.
"Investors are again focused on oil and gas plays given rising crude oil prices," a dealer with a local brokerage said.
In late afternoon trading, New York's main contract, light sweet crude was 58 cents up at 62.89 dollars a barrel, beating its previous high of 62.50 dollars.
Among oil-linked stocks, Keppel Corp was up 20 cents at 13.00, SembCorp Marine added six cents to 2.92 and SembCorp Industries rose six cents to 2.97.
Smaller oil and gas stocks also advanced, with KS Energy up 16 cents to 3.00, Labroy Marine jumped five cents to 1.12 and Jaya edged up one cent to 1.19.
Among the blue chips, Singapore Telecommunications gained four cents to 2.71, Singapore Airlines dropped 20 cents to 11.30, ST Engineering was up six cents at 2.62 and Singapore Press Holdings dropped two cents to 4.58.
Technology stocks were mixed with Chartered Semiconductor up one cent at 1.27, Creative Technology unchanged at 12.90 and Venture down 10 cents at 15.50.
Banks were mostly flat with DBS steady at 16.50, United Overseas Bank even at 14.80 while Oversea-Chinese Banking Corp was 10 cents up at 6.40.
In late trading session, the Singapore dollar was trading at 1.652 against the US dollar and 2.0446 against the euro.
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