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Singapore shares close 2.7% up on Monday

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COMING off a brutal week, Singapore stocks bounced on Monday along with most other markets in Asia.

As sentiments that equities have been oversold gained force, the local market finished 2.7 per cent higher, with the Straits Times Index rising 67.95 points to 2,607.9.

Blue chips were in play. About 901.2 million shares worth S$1.35 billion in total changed hands, which worked out to an average unit price of S$1.50 per share.

The most actively traded counter was commodities trader Noble Group, which rose S$0.02 to S$0.325 with 53 million shares changing hands. Other actives included Singtel and Technics Oil & Gas.

Gainers outnumbered losers 234 to 136, or about seven up for every four down.