Singapore stocks rise as regional markets firm on Wall Street rally
- POSTED: 17 Feb 2014 17:54
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Share prices in Singapore rose on Monday following gains in regional exchanges after Wall Street's rally last week.
SINGAPORE : Share prices in Singapore rose on Monday following gains in regional exchanges after Wall Street's rally last week.
Analysts said the continued recovery of global markets from the recent selloff encouraged buying during the session
Easing worries over the Federal Reserve's decision to reduce its stimulus programme also boosted sentiment.
The ST index rose 30.57 points to end at 3,069.28. on a volume of 2.57 billion shares.
There were 302 advances against 134 declines by the close of dealings.
Traders said the market gained from the start of dealings and was further boosted after Tokyo shares rebounded from early weakness.
News of disappointing Japanese economic growth figures failed to discourage investors in the region.
Among STI component stocks, Capitaland rose 2.08 percent at S$2.94, Golden Agri-Resources added 2.89 percent to end at 53.5 cents and UOB closed 2.56 percent firmer at S$20.41.