Singapore shares were expected to extend their rise into the first week of 2010 as investors return after the holiday period, dealers said. The opening of the city-state's first casino in the first quarter is also likely to perk up sentiment, they said.
"There could be increased interest in the first few weeks of the New Year because the fund managers will be coming back as holidays are over, and as the opening of Singapore's first casino-resort draws near," said a dealer with a local brokerage.
Singapore's first casino, Resorts World at Sentosa, is due to open in the first quarter of 2010. A second one, Marina Bay Sands, is expected to start operations in April. The main Straits Times Index finished at 2,897.62 on Thursday, the final session of 2009, up 59.92 points or 2.11 percent from last week's close. Financial markets in Singapore will be closed Friday and reopen Monday.
Average daily volume was 1.45 billion shares worth 1.09 billion Singapore dollars (779 million US) compared with 955 million shares worth 827 million Singapore dollars the previous week.
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