Singapore shares climb

Singapore shares closed 1.33 percent higher on Tuesday, boosted by fund managers buying stocks for year-end portfolio improvement, analysts said. The blue chip Straits Times Index gained 37.01 points to 2,823.82. Volume totalled 1.21 billion shares worth 997.20 million Singapore dollars (717 million US) and gainers led losers 256 to 172 while 901 issues were even.
"Window dressing could turn out to be a self-fulfilling prophecy," said a trader with a local brokerage. Among the banks, DBS advanced 26 cents to 14.82, United Overseas Bank climbed six cents to 19.32 while Oversea-Chinese Banking Corp jumped 26 cents to 8.94.
Singapore Telecom moved six cents higher to 3.03, Singapore Airlines rose ten cents to 14.28 and publisher Singapore Press Holdings fell two cents to 3.57. Property developer CapitaLand closed four cents higher at 4.15 dollars.