Singapore share prices closed 0.13 percent higher on Wednesday on gains in selected blue chips, dealers said. The Straits Times Index (STI) rose 3.0 points to 2,313.25. Volume was one billion shares worth 721 million Singapore dollars (432 million US), up from 780 million shares worth 771 million dollars on Tuesday. Gains led declines 249 to 197, with 627 stocks unchanged.
Dealers said the STI was expected to stay above 2,300 points but further upside looked limited as investors await next week's Federal Reserve meeting to decide the course of US monetary policy.
"Most players are divided on whether the Fed will raise or keep rates unchanged," said a dealer from a local brokerage. "I think whatever the decision, it will be neutral for the Singapore stock market."
Leading property developer CapitaLand was among the top gainers, closing six cents higher at 3.06 dollars on expectations of stronger residential sales in the city-state, dealers said.
Among other property firms, Wing Tai gained three cents to 1.33 dollars and City Developments was steady at 9.0 dollars.
In the technology sector, electronics contract firm Venture added 30 cents to 15.30 dollars, STATS ChipPac rose two cents to 1.14 and UTAC was one cent up at 67.5 cents.
Singapore Telecommunications lost one cent to 2.59 dollars, Singapore Press Holdings fell two cents to 4.60, Singapore Airlines was flat at 11.90 and ST Engineering gained two cents to 2.58.
In the banking sector, DBS closed flat at 16.00 dollars, United Overseas Bank was flat at 14.30 and Oversea-Chinese Banking Corp rose five cents to 6.25.