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Singapore shares close higher on renewed optimism

SINGAPORE shares ended higher on Tuesday, bolstered by renewed optimism on Wall Street after US senators struck a deal to end a three-day government shutdown.

The benchmark Straits Times Index ended at 3,592.08, up 0.63 per cent, or 22.65 points. More than 2.5 billion shares, worth S$1.8 billion, changed hands. Gainers outpaced losers 325 to 182.

DBS continued to power ahead, ending at S$26.84 a share, up 40 Singapore cents, or 1.5 per cent, with more than 10 million shares traded.

Offshore marine-related Sembcorp Marine extended gains as more analysts upgraded the stock. It closed at S$2.57, up 18 Singapore cents, or 7.5 per cent on more than 33 million shares.

UBS Investment Research on Tuesday upgraded its rating on Sembcorp Marine to a "Buy" call and lifted its target price to S$3.06 from S$1.85 previously. It said SembMarine is expected to see a revival of new orders to S$4 billion in 2018, ending a two-year slump.

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