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SINGAPORE: Singapore share prices closed up 0.28 percent on Thursday as local investors remained cautious despite weaker-than-expected US inflation data, dealers said.
The blue chip Straits Times Index rose 8.92 points to 3,207.43 on a volume of 1.51 billion shares worth S$1.66 billion (US$1.12 billion). Rising issues led decliners 334 to 274, with 953 stocks unchanged.
The United States Labor Department on Wednesday said US consumer prices rose a moderate 0.2 percent in April, as energy costs appeared to stabilise after sharp gains earlier this year.
"Local investors are not likely to be overly optimistic about the better-than-expected US inflation number," Westcomb Securities said.
Chan Wai Chee, research head at Phillip Securities, said "investors are still afraid" and are sticking to blue chips and dividend plays.
Banking shares were mixed, with DBS Group rising four cents to S$20.06, Oversea-Chinese Banking Corp up five cents at S$8.88 and United Overseas Bank slipping two cents to S$20.38.
Among property heavyweights, CapitaLand gained nine cents to S$6.71, Keppel Land moved up six cents to S$5.76 and City Developments was steady at S$11.70 after reporting on Wednesday a 30.8 percent rise in first-quarter net profit.
Blue chip Neptune Orient Lines gained 12 cents to S$3.88, a day after reporting that its first-quarter profit ballooned 183 percent compared with the same period last year, supported by higher container volumes.
Singapore Airlines jumped 24 cents to S$16.02 and Singapore Telecommunications finished four cents lower at S$3.69. On Wednesday SingTel reported a 4.8 percent increase in annual net profit. - AFP/so/al
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