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SINGAPORE - Singapore shares rose on Wednesday to close at their highest levels in nine weeks, following comments from the Federal Reserve indicating US interest rates are likely to stay low for an extended period.
The key blue-chip Straits Times Index (STI) ended 0.8 percent or 22.87 points higher at 2,919.30. Overall volume was 1.70 billion shares worth S$1.6 billion. Gainers outnumbered losers 364 to 145.
Among property stocks, CapitaLand gained 2% to S$4.10 while City Developments rose 1.1% to S$11.00.
Bank stocks also ended higher. United Overseas Bank gained 2.2% to S$18.98, OCBC rose 1.1% to S$9.05 while DBS ended 0.7% higher at S$14.44.
Meanwhile stronger crude oil prices pushed Singapore's offshore marine stocks higher, with Keppel Corp climbing 2.3% to S$9.20 and Semb Corp rising 1.3% to S$4.01. Cosco Corp gained 0.8% to S$1.28.
- CNA/ir
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