Singapore shares closed 0.27 percent higher on Tuesday on gains in selected blue chips, dealers said. The main Straits Times Index was up 6.17 points at 2,272.26. Volume traded totalled 1.12 billion shares worth 998 million Singapore dollars (684 million US). There were 170 rising stocks, 207 losers while 865 issues were flat.
Among the winners were flag carrier Singapore Airlines, which closed 20 cents higher at 12.88, and Singapore Telecommunications which put on seven cents to 2.99. Analysts however expect increased investor caution ahead of the release of second quarter corporate earnings, with reporting due to start later this month.
In the banking sector, DBS eased four cents to 11.30, United Overseas Bank firmed four cents to 14.20 and Oversea-Chinese Banking Corp was eight cents higher at 6.68. Property developer CapitaLand added one cent to 3.55 and City Developments was six cents stronger at 8.44.