Singapore shares close 0.7% higher on Tuesday

SINGAPORE shares closed 0.7 per cent higher on Tuesday, with the Straits Times Index (STI) up 24.65 points to 3339.78, as optimism rose over Greece and its international creditors being able to reach a debt reform deal that might avert a default and potential eurozone exit.

The index was lifted by gains by Global Logistic Properties - up 2.8 per cent or seven Singapore cents to S$2.60 - and the banks, offsetting a 0.7 per cent drop by Singtel, which closed three Singapore cents lower at S$4.27.

About 1.05 billion shares worth S$917 million in total changed hands, which worked out to an average unit price of S$0.87 per share.

The most actively traded stock was Debao Property, which rose S$0.003 to S$0.069 with 72.9 million shares changing hands. Other actives included International Healthway Corporation and Noble Group.

Gainers outnumbered losers 232 to 196, or about six up for every five down.