Singapore share prices closed 0.82 percent higher on Thursday on gains in blue chips following Wall Street's rebound overnight, dealers said. The Straits Times Index rose 29.62 points to 3,624.56. Volume totalled 3.95 billion shares worth 2.9 billion Singapore dollars (1.91 billion US). There were 502 rising issues, 330 losers and 687 issues were flat.
"We are tracking Wall Street's rebound," a dealer at a local brokerage said. "Oil and gas related stocks were active, the (oil and gas industry) outlook looks good, and the sector could continue to be market movers," he said.
COSCO Corp (Singapore) led the gains in the oil and gas sector with the stock hitting a new record high for the third time this week after the company said its 51 percent-owned unit COSCO Shipyard Group had won contracts worth a combined 563 million US dollars.
The stock added 16 cents to 4.80 dollars, off an all-time high of 5.20 dollars. For the blue chips, Keppel Corp was up 40 cents at 12.80 dollars, Neptune Orient Lines advanced 30 cents to 5.95 dollars and Singapore Airlines fell 10 cents to 19.40 dollars.
Among banks, DBS Group rose 10 cents to 23.60 dollars, United Overseas Bank climbed 20 cents higher to 22.60 dollars and Oversea-Chinese Banking Corp was up 10 cents at 9.50 dollars. In the property sector, Keppel Land eased five cents to 8.50 dollars, CapitaLand gained five cents to 7.70 dollars and City Developments was 10 cents lower at 16.50 dollars.