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SINGAPORE - Singapore shares closed 1.03 percent higher Wednesday ahead of a US Federal Reserve decision on interest rate policy, dealers said.
The blue-chip Straits Times Index rose 27.09 points to 2,648.64. Volume traded totalled 1.13 billion shares worth S$999 million (US$719 million). There were 286 rising issues, 198 losers while 764 counters were flat.
"People are watching interest rate indications from other countries, but it's still a good time to buy as there's value in a number of stocks," said a dealer at a foreign brokerage.
The US Federal Reserve is expected to hold its key lending rate steady in a range of zero to 0.25 per cent this week.
The European Central Bank and Bank of England will announce policy decisions the following day.
Among the local blue chips, Singapore Airlines rose eight cents to S$13.60 and Singapore Telecommunications was steady at S$2.92.
DBS Group Holdings firmed eight cents to S$13.04, United Overseas Bank put on 26 cents to S$17.68 and Oversea-Chinese Banking Corp was 13 cents higher at S$7.72.
- AFP /ls
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