Singapore shares close mixed
Posted: 20 November 2009 1802 hrs

	Photos  of

SINGAPORE: Singapore shares closed mixed on Friday as the market struggled for direction amid a lack of leads, dealers said.

The blue-chip Straits Times Index added 2.75 points or 0.1 per cent to 2,761.54 on volume of 1.50 billion shares worth S$1.16 billion (US$837 million).

Dealers said the market remained subdued following overnight weakness on Wall Street. There were 229 declining stocks to 197 risers, with 828 unchanged.

"The current rally in the Singapore bourse has not been broad-based. The key movers have been banking stocks," said UOB KayHian analyst K. Ajith.

"Going forward, we believe the market will be increasingly selective and will most likely focus on laggards."

Banking stocks were mixed. DBS was up 26 cents to S$14.86 and Oversea-Chinese Banking Corp added two cents to S$8.48, but United Overseas Bank eased two cents to S$19.48.

Singapore Airlines declined 20 cents to S$13.92, Singapore Telecom dropped three cents to S$2.92 and property developer CapitaLand dipped one cent to S$4.09.

Container shipping firm Neptune Orient Lines closed one cent higher at S$1.60.


- AFP/so