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Singapore shares end up 0.80%

Singapore share prices ended 0.80% higher on Thursday, rebounding from a profit-taking session on Wednesday.

SINGAPORE: Singapore share prices ended 0.80% higher on Thursday, rebounding from a profit-taking session on Wednesday.

The blue-chip Straits Times Index (STI) rose 25.92 points to end at 3,283.93.

The index was also lifted by better-than-expected earnings on Wall Street, as tech giants Apple and Facebook reported first-quarter earnings that far outstripped forecasts.

Overall volume traded on the Singapore Exchange was 2.11 billion shares worth S$1.34 billion.

Gainers led losers 321 to 132.

Shares in public transport operator SMRT Corporation surged as much as 21% to a four-month high of S$1.24, drawing a query from the exchange about the unusual price movements.

The stock ended 18.54% higher at S$1.215. That is more than double the previous record rise of 9.2% in 2007.

Volume was 14.6 million shares -- more than 10 times normal.

SMRT lifted other Singapore transport companies.

Shares in SMRT's smaller rival, SBS Transit, rose 7.63% to end at S$1.27 while taxi operator ComfortDelgro Corp ended 3% higher.

SMRT said after the market close that it was not aware of any information that had not been previously announced which might explain the unusual trading activity.

SMRT will release its results for financial year 2013/14 on Wednesday.
 

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