Singapore share prices closed 0.23 percent higher on Monday with local technology stocks boosted by positive guidance from US chip giant Intel, dealers said. The Straits Times index rose 5.07 points to 2,166.29. Volume totalled 715 million shares worth 701 million Singapore dollars (427 million US), down from 726 million shares worth 746 million dollars on Friday. Gainers led decliners 264 to 177 with 521 stocks flat. Dealers said Intel's positive guidance was the only significant factor influencing local trading after the chip giant announced last week it expected a double-digit jump in revenues this year.
Intel's upbeat forecasts are being seen as a pointer to an upswing in the global electronics sector.
"For today, much of the action was in tech-related stocks. Apart from that, there wasn't much excitement," a dealer at a local brokerage said.
Contract chip maker Chartered Semiconductor rose 2.5 cents to 1.01 dollars, chip tester STATS ChipPAC was up six cents at 1.07 and UTAC gained one cent to 59.5 cents.
Among blue chips, Singapore Airlines rose 20 cents to 11.70 dollars ahead of results due Wednesday for the year to March 2005. Analysts are expecting the flag carrier to report a profit of 1.14-1.52 billion dollars, up from 849.3 million dollars.
Singapore Telecommunications fell five cents to 2.56 dollars, Singapore Press Holdings gained two cents to 4.44 and ST Engineering dropped five cents to 2.50. In the banking sector, DBS fell 10 cents to 14.60 dollars, United Overseas Bank rose 30 cents to 14.50 and Oversea-Chinese Banking Corp was flat at 13.40.
Among the property firms, CapitaLand was up one cent at 2.40 dollars, Keppel Land shed two cents to 2.43 and City Developments was flat at 7.10.