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Singapore shares closed 1.98 per cent higher Monday on hopes the US government will bail out its beleaguered auto sector, dealers said.
The main Straits Times Index advanced 34.42 points to 1,774.76. Volume totalled 934 million shares worth $786 million and there were 233 rising issues, 163 losers and 884 issues flat.
Regional equity markets also firmed Monday, boosted by hopes the Big Three automakers - General Motors, Chrysler and Ford - will likely get a lifeline from the US government, dealers said.
Analysts said sentiments in the local stock market appeared to be improving.
"The market seems to be taking negative news a little bit better," a strategist told Dow Jones Newswires.
"Even when the market falls, it doesn't seem to fall as much as it used to."
Among the blue chips, Singapore Airlines added two cents to 11.06, Singapore Telecommunications was five cents higher at 2.66 and ST Engineering eased seven cents to 2.23.
For the banks, DBS was flat at 10.10 and United Overseas Bank advanced 46 cents to 13.28.
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