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Singapore shares closed 1.37 percent higher Wednesday, boosted by Wall Street's overnight rally, dealers said. The blue chip Straits Times Index rose 36.02 points to 2,674.42. Volume was 2.71 billion shares worth 1.85 billion Singapore dollars (2.63 billion US). There were 403 rising issues, 143 losers while 695 were even.
Banks were among the winners with DBS up 26 cents to 13.22 dollars, United Overseas Bank 12 cents higher at 16.90 and Oversea-Chinese Banking Corp five cents up at 7.76 dollars. Singapore Airlines gained 32 cents to 13.40, Singapore Telecommunications added five cents to 3.19 and Keppel Corp was 11 cents firmer at 8.25 dollars.
Property shares, which fell in the last two sessions on government moves to cool the housing market, rebounded on the back of investor confidence in the global economic recovery. CapitaLand climbed six cents to 3.77 dollars, City Developments advanced 38 cents to 10.42 and Keppel Land ended eight cents higher at 2.68.

Copyright Agence France-Presse, 2009

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