Singapore share prices closed 1.12 percent higher on Tuesday after four straight days of losses as bargain-hunters bought stocks following Wall Street's gains overnight, dealers said.
The Straits Times Index closed 25.54 points higher at 2,305.30. The benchmark index had been declining for the past four trading days.
Volume was 778 million shares valued at 771 million Singapore dollars (467 million US), down from 811 million shares worth 828 million Singapore dollars on Monday.
Gainers beat losers 315 to 174 and 815 stocks were unchanged.
"The oversold market breadth continues to favour a technical rebound as the week progresses. Initial retracement is seen at 2,300, with next two levels at 2,324 and 2,338-2,343," Kim Eng Securities said in a note to clients.
Macquarie Securities said the market upswing was due to strong earnings dividend support.
Index heavyweight Singapore Telecommunications Ltd (SingTel), which had lost nearly 4.0 percent of its value in the last four trading days, rose five cents to 2.66.
Singapore Airlines gained 10 cent to 11.50 after the carrier said its overall load factor in July improved to 69.1 percent from 68.8 percent a year earlier.
Singapore Press Holdings was flat at 4.48, while ST Engineering dipped a cent to 2.56. Among the lenders, United Overseas Bank posted the biggest gain, rising 30 cents to 14.50. DBS advanced 10 cents to 15.80, while Oversea-Chinese Banking Corp added 10 cents to 6.25. Most technology stocks were higher, led by Datacraft, which jumped four US cents to 1.03 US dollars. Creative Technology rose 20 Singapore cents to 12.0 Singapore dollars.
In the property sector, Keppel Land rose 12 cents to 3.30, CapitaLand advanced four cents to 2.88, while City Developments jumped 25 cents to 8.80.
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