Singapore shares close 0.5% up on Monday

LOCAL shares ended 0.5 per cent higher on Monday, with the Straits Times Index ending 14.61 points up at 3,083.07.

The bluechip index got a lift in the morning after China eased monetary policy on Friday, cutting both interest rates and lenders' reserve requirements. But the intra-day trend was a gradual downwards slide.

About 1.81 billion shares worth S$1.12 billion in total changed hands, which worked out to an average unit price of S$0.62 per share.

The most actively traded stock was New Silkroutes, which finished flat at S$0.001 with 319.1 million shares changing hands. Other actives included Noble Group and Addvalue Technologies.

Gainers outnumbered losers 230 to 185, or about five up for every four down.