- POSTED: 08 Jan 2014 19:30
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Singapore shares closed higher, recovering from three sessions of falls as strong US trade data bolstered sentiment across Asia.
SINGAPORE: Singapore shares closed higher, recovering from three sessions of falls as strong US trade data bolstered sentiment across Asia.
The ST Index rose 29.77 points, or 0.95 per cent, to 3,150.65.
Volume was 3.747 billion shares worth S$1.136 billion, as loser outnumbered gainers 234 to 209.
Singapore Telecom rose 0.28 per cent to S$3.55 while DBS Bank gained 1.94 per cent to S$17.37.
US shares enjoyed a rally on Tuesday after the Commerce Department said the trade deficit shrank in November as exports hit a record high for a second straight month.
The deficit narrowed 12.9 percent from October, the second month in a row of contraction, to US$34.3 billion, the smallest figure since September 2009. It was also much better than forecasts of US$40.4 billion.
The upbeat numbers added to growing optimism about the world's number one economy and could tilt the Federal Reserve to consider further reducing its stimulus programme.
The central bank said at its last meeting that from January it would cut its bond-buying by US$10 billion a month to US$75 billion.
Minutes for that gathering are due for release on Wednesday and could give clues about its future intentions.