Singapore share prices closed 2.37 percent higher on Wednesday as investors bought into cheaper stocks following two straight days of losses, dealers said. Volume was thin however and there were no clear indications of where the market is heading, they said. The blue chip Straits Times Index jumped 52.86 points to 2,278.96 on volume of 1.22 billion shares worth 1.14 billion Singapore dollars (786 million US).
Gainers outgunned decliners 325 to 138, with 883 stocks unchanged. Banking stocks were higher, with DBS rising 16 cents to 11.36, United Overseas Bank up 46 cents to 14.60 and Oversea-Chinese Banking Corp advancing 12 cents to 6.60. Among property stocks, CapitaLand closed six cents higher at 3.65, Keppel Land gained four cents to 2.13 and City Developments climbed 15 cents to 8.53. Singapore Telecom rose six cents to 2.96 and Singapore Airlines added 50 cents to 12.80.