Singapore share prices could scale higher in the week ahead amid continued upbeat sentiment after the US Federal Reserve kept interest rates steady, dealers said.
The US central bank decided to keep the benchmark rate at 5.25 percent while highlighting signs of US economic acceleration along with easing of inflation pressures, they said.
Investors' mood is also likely to be propelled higher by the robust earnings announced so far by key companies including diversified conglomerate Keppel Corp.
"Market mood is likely to remain upbeat as interest rate hike fears abated," said WestComb Securities in a report on Friday, adding "market expectation of good earnings reports will propel the market further."
For the week to February 2, the Straits Times Index (STI) closed at 3,217.68 points, up 129.94 points or 4.21 percent over the previous week.
The STI's closing on Friday was its new record high, eclipsing the previous peak of 3,168.1 points set on Thursday. Average daily volume was 2.1 billion shares worth 1.94 billion Singapore dollars (1.27 billion US) from 2.79 billion shares worth 2.20 billion dollars the previous week.