Singapore shares rise

Singapore shares closed 1.24 percent higher on Friday as investors snapped up bargains after recent declines, dealers said. The blue chip Straits Times Index gained 33.37 points to 2,715.34. Volume totalled 1.56 billion shares worth 1.45 billion Singapore dollars (1.04 billion US) and there were 345 rising issues, 157 losers while 837 were even.
"After three consecutive days of decline, it would not be a surprise for a technical rebound to kick in," said an analyst with a local brokerage. Banks closed higher with DBS Group Holdings up four cents to 13 dollars, United Overseas Bank gaining 18 cents to 17.40 and Oversea-Chinese Banking Corp firming two cents to 7.63. Singapore Airlines put on 28 cents to 14.08 and Singapore Telecommunications was three cents higher at 3.10.