|
SINGAPORE share prices closed 0.91 per cent higher on Wednesday, recovering from earlier losses on concerns over the US economy, dealers said.
They said despite the market rebound, worries over the US economy remain and investors are waiting for the outcome of the Federal Reserve's meeting next week to see if interest rates will be cut again.
The Straits Times Index was up 32.18 points at 3,560.05 on volume of 2.33 billion shares worth 2.36 billion Singapore dollars.
There were 570 rising issues, 219 losers and 898 issues were even.
'How the market performs will depend on how it reads the Fed's move on rate cuts and its statement that will come out in a week's time,' said Najeeb Jarhom, research head for retail markets at Fraser Securities.
'In the meantime, we will just only have situational plays,' he said.
Among blue chips, Singapore Airlines was 20 cents higher at 18.30 dollars, Singapore Telecommunications added 12 cents to 3.90 dollars and Neptune Orient Lines advanced 24 cents to 4.30 dollars.
CapitaLand rose 15 cents to 6.95 dollars after the property developer said it was planning to expand its business in Vietnam, one of Asia's fastest growing economies.
Among the banks, DBS Group gained 20 cents to 20.70 dollars, United Overseas Bank fell 10 cents to 20.10 dollars and Oversea-Chinese Banking Corp. was steady at 8.55 dollars.
 |
Is this article useful to you?
|
|
|
|
|
|
| 
