SINGAPORE - Singapore shares closed 0.86 per cent higher on Wednesday after a surge on China's main index supported regional bourses, dealers said.
The blue-chip Straits Times Index closed up 23.36 points at 2,751.75 on volume of 1.06 billion shares worth S$1.21 billion. There were 265 rising stocks, 237 losers and 882 issues were steady.
"I still think we are on a downtrend. The upside looks capped," a trader with a local brokerage told Dow Jones Newswires. "The technicals look poor... but there's a foreboding feeling on fundamentals too."
Among the gainers were China-linked stocks. Shipping firm Cosco Corp climbed 17 cents to S$2.18 and real estate developer Yanlord Land Group added 12 cents to S$1.72.
Banking stocks also rose, with DBS gaining four cents to S$17.96, United Overseas Bank advancing 18 cents to S$19.20 and Oversea-Chinese Banking Corp rising nine cents to S$8.18.
In the property sector, CapitaLand advanced nine cents to S$4.59, Keppel Land was down two cents at S$4.03 and City Developments was up 30 cents at S$10.14.
Singapore Airlines fell eight cents to S$15.20 and Singapore Telecom rose one cent to S$3.46.
- AFP/ir