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Singapore stocks end higher ahead of new Fed chief's first testimony

Singapore stocks closed higher on Tuesday, following a positive lead from Wall Street as investors await the new Federal Reserve chief's first testimony to Congress.

SINGAPORE: Singapore stocks closed higher on Tuesday, following a positive lead from Wall Street as investors await the new Federal Reserve chief's first testimony to Congress.

The benchmark ST Index added 11.90 points, or 0.39 per cent, to end at 3,029.10 on turnover of S$791.5 million. Volume traded totalled 1.799 billion shares as gainers outnumbered losers 288 by 139.

Agribusiness company Wilmar International rose 0.62 percent to S$3.27, while real estate developer Capitaland was up 1.41 percent to S$2.88.

Janet Yellen, who took over at the US Federal Reserve on February 1, will testify to a House of Representatives committee later in the day on the state of the economy and the course of monetary policy.

Analysts will be looking for clues about her plans for the bank's stimulus programme, which the policy board has reduced twice in as many months, with the most recent sparking turmoil in global markets.

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