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SINGAPORE : Singapore stocks closed 0.77 per cent higher on Tuesday, but dealers said gains were limited amid caution ahead of key monetary policy meetings in the United States and Japan.
The Bank of Japan and United States Federal Reserve are separately to hold two-day meetings ending Wednesday at which both are expected to keep their respective interest rates at record lows.
Attention will be focused on the banks' outlook for the future, as well as any possible monetary moves.
"Everyone is expecting the Fed to leave rates unchanged, but the wording of the statement may bring some life to the market," a trader said.
The Straits Times Index rose 22.10 points to end at 2,896.43.
Volume was 1.14 billion shares.
Losers led gainers 238 to 181.
CapitaLand gained 2.3 per cent at S$4.00, while City Developments rose 2.1 per cent to S$10.88.
Singapore Telecommunications was 2.3 per cent higher at S$3.18, while Singapore Airlines declined 0.3 per cent to S$15.74. - AFP/CNA/ms
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