Singapore shares closed 0.90 percent higher on Thursday as investors picked up bargains following recent declines, dealers said. The blue chip Straits Times Index added 16.57 points to end at 1,859.98 on volume of 1.55 billion shares worth 1.25 billion Singapore dollars (831 million US). Gainers led losers 251 to 198, with 792 issues unchanged.
"It seems as though the correction in the last few days has been enough to get some bargain-hunting underway again," said a trader at a local brokerage. Banking shares were mixed. DBS eased two cents to 9.03 while Oversea-Chinese Banking Corp gained seven cents to 5.56 and United Overseas Bank closed 12 cents higher at 11.20.
Among property shares, CapitaLand fell five cents to 2.65 while City Developments climbed seven cents to 5.83 and Keppel Land rose 12 cents to 1.88. Singapore Airlines advanced 22 cents to 10.82 while Singapore Telecommunications remained at 2.47. Agribusiness group Wilmar International gained 18 cents to 3.61 and beverage maker Fraser and Neave edged up a cent to 2.60.
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