Singapore share prices closed 1.4 percent higher Friday, boosted by the economy's strong showing in the third quarter with sentiment also buoyed by hefty gains elsewhere in the region, dealers said.
They said better-than-expected economic data for the September quarter, which prompted the government to raise its 2005 gross domestic product (GDP) target to 5.0 percent from 3.5-4.5 percent, had lifted investor confidence.
The Straits Times Index gained 31.71 points to 2,293.2. Volume totalled 833 million shares worth 988 million Singapore dollars (581 million US), up from 654 million shares worth 697 million dollars on Thursday.
There were 368 rising issues, 163 losers and 604 issues were even.
For technology stocks, contract chip maker Chartered Semiconductor added three cents to 1.17, Creative rose 20 cents to 12.60, Venture Corp advanced 90 cents to 13.50 and STATS ChipPAC gained three cents to 1.11
Among blue chips, Singapore Telecommunications was three cents up at 2.43, Singapore Press Holdings gained two cents to 4.54, Singapore Airlines was 20 cents higher at 11.80 and ST Engineering advanced six cents to 2.68.
Banking stocks also closed higher with DBS 20 cents firmer at 16.10, United Overseas Bank rising 20 cents to 14.60 and Oversea-Chinese Banking Corp was 10 cents up at 6.55.
In the property sector, CapitaLand gained two cents to 3.34, City Developments was up 20 cents at 8.50 and Keppel Land added four cents to 3.84.