Singapore share prices closed 1.42 percent up on Wednesday, boosted by Wall Street's recovery, dealers said. The main Straits Times Index added 49.44 points to 3,524.91. Volume totalled 2.28 billion shares worth 2.61 billion Singapore dollars (1.81 billion US).
There were 529 rising issues and 301 losers, while 842 issues were flat. Wall Street roared back from four rocky sessions on Tuesday as sentiment was lifted by stronger-than-expected earnings from retail giant Wal-Mart and a sharp drop in crude oil prices.
The Singapore benchmark has fallen as much as 10 percent since the beginning of the month as investors cut holdings on worries that fallout from the US subprime mortgage sector crisis will hit Asian corporations. Among blue chips, Singapore Airlines fell 10 cents to 18.80 Singapore dollars, Singapore Telecommunications gained six cents to 3.82 and Neptune Orient Lines surged 22 cents to 4.94.
For the banks, DBS was steady at 20.10, United Overseas Bank added 10 cents to 19.60 and Oversea-Chinese Banking Corp was 10 cents higher at 8.55. Property stocks were higher amid an upswing in the sector. Keppel Land gained five cents to 8.20 dollars, CapitaLand was 15 cents higher at 7.10 dollars and City Developments was steady at 14.20 dollars.