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SINGAPORE: Singapore share prices edged up 0.4 percent on Thursday, as investors took the cue from other Asian markets and exercised caution after February inflation data in China renewed concerns of further policy tightening.
The key blue-chip Straits Times Index (STI) rose 11.62 points to 2,873.91. Overall volume was 1.47 billion shares worth S$1.43 billion. There were 236 gainers and 231 losers.
Among the bank stocks, United Overseas Bank rose 34 cents to S$18.52, OCBC advanced 10 cents to S$8.83 while DBS closed 8 cents higher at S$14.18.
China's National Bureau of Statistics said consumer prices rose 2.7 percent year on year in February, quickening from 1.5 percent in January. The news led Chinese and Hong Kong markets lower before bargain hunting lifted the indexes into the black. Hong Kong's Hang Seng Index rose 19.91 points while the Shanghai Composite Index added 2.35 points.
- CNA/ir
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