07 Sep '11, 11am

S'pore stocks close firmer on bargain-hunting

S'pore stocks close firmer on bargain-hunting

SINGAPORE: Share prices in Singapore closed higher on Wednesday as bargain hunters moved in to take advantage of recent losses. Brokers said regional markets were also supported by speculation that China may relax its monetary policy. The Straits Times Index rose 57.80 points or 2.1 per cent to end at 2,832.13. The psychologically important 2,900-point level is expected to be the resistance level for STI, while the 2,800 level will provide support, dealers said. Gainers outpaced losers by 329 to 140, and volume totalled 1.52 billion shares valued at S$1.38 billion. Among active counters, Genting Singapore moved up 4.5 cents to S$1.635, Sheng Siong Group added 3.5 cents to 48.5 cents, while Golden Agri-Resources rose 2 cents to 66 cents. Banks and property stocks were also firmer. DBS Bank gained 35 cents to S$13.05, OCBC climbed 17 cents to S$8.67 and UOB finished 38 cents...

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

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