Singapore share prices closed 0.84 percent higher on Wednesday as the market benefited from Wall Street's overnight advance and easier oil prices, dealers said.
The Straits Times Index gained 20.83 points to 2,508.03 on volume of 1.06 billion shares worth 1.15 billion Singapore dollars (732 million US). Gainers led losers 425 to 162, with 657 stocks unchanged.
Dealers said the gains appear unsustainable given a lack of longer-term buying catalysts. "There is no real price driver, except for the low oil prices," a dealer with a local brokerage said, adding the benchmark index will likely hover around the 2,500 points level in the near-term.
Blue chip Singapore Airlines gained 0.10 to 14.40 dollars, Keppel Corp rose 0.10 to 14.50 and Singapore Telecommunications was up 0.03 at 2.48. ST Engineering gained 0.01 at 2.91.
Among the techs, Chartered Semiconductor added 0.04 to 1.26, Creative Technology climbed 0.20 to 10.40 and STATS ChipPAC put on 0.03 to 1.03. CapitaLand rose 0.08 to 4.88, Keppel Land gained 0.12 to 4.64 and City Developments advanced 0.35 to 9.90.
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