02 Feb '11, 10am

S'pore stocks close higher

SINGAPORE : Singapore stocks closed higher on Wednesday, in line with a regional rally following overnight gains on Wall Street. Traders said strong US manufacturing data helped ease concerns over the unrest in Egypt. The Straits Times Index gained 26.38 points, or 0.8 per cent, to end at 3,211.12 in a shortened trading session. Volume was a thin 940 million shares worth S$997 million. Advancing issues outnumbered decliners 356 to 72. Trading on the Singapore Exchange closed at 12.30pm ahead of the Lunar New Year holidays on Thursday and Friday. Trading will resume on Monday. Dealers expect the STI to meet heavy resistance around 3,215 points and support at 3,180. Commodities-related firms rallied as Malaysian palm oil futures rose to three-year highs on supply concerns after floods partially submerged oil palm estates. Golden Agri-Resources moved up 2.1 per cent to S$0.73...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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