Singapore share prices closed 0.93 percent higher on Thursday after four days of losses, amid caution before the close of the US Federal Reserve policymakers' meeting, dealers said. The Straits Times Index closed up 32.73 points at the day's high of 3,538.23 on volume of 3.45 billion shares, worth 2.47 billion dollars (1.61 billion US).
Gainers beat losers 503 to 320, with 704 issues unchanged. The Federal Reserve was to conclude a two-day meeting Thursday widely expected to hold interest rates steady and note signs of a rebound in the US economy, despite the persistent slump in housing, analysts said.
"The index was supported by select blue chips. Property and banking stocks are being bought up now after the correction of the past few days," said a local brokerage dealer who declined to be named.
Gains in property and banking stocks shored up the benchmark index. CapitaLand was up 0.15 at 7.70, Keppel Land added 0.05 to 8.65 and City Developments was up 0.20 at 17.10.
Blue chip Singapore Telecommunications was up 0.06 at 3.50, Singapore Airlines rose 0.30 to 18.80 and Singapore Press Holdings gained 0.06 to 4.64.
Among banking stocks, DBS was 0.20 higher at 23.00, United Overseas Bank gained 0.10 to 22.00 while Oversea-Chinese Banking Corp jumped 0.05 to 9.25.
United Test and Assembly Centre (UTAC) was 0.02 higher at 1.17.
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