- POSTED: 16 Sep 2013 18:07
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In Singapore, share prices closed sharply higher on Monday following news that Larry Summers has withdrawn from the race to be Fed chairman.
SINGAPORE : In Singapore, share prices closed sharply higher on Monday following news that Larry Summers has withdrawn from the race to be Fed chairman.
Many investors said Summers as a candidate for the post was likely to be more aggressive in limiting the central bank's moves to stimulate the economy.
Easing fears over an attack on Syria after the deal by the US and Russia also helped to propel stocks higher across the region.
The ST index climbed 59.18 points to 3,179.48 on a volume of 3.6 billion shares.
There were 329 advances against 178 declining issues after the close of dealings.
The market saw gains across the board with blue chips scoring notable price rises.
Among active blue chips, SingTel rose 8 cents to S$3.69 and Golden Agri-Resources edged up half a cent to 54 cents.