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Singapore shares close up 0.47% on Friday

A ROLLERCOASTER week in the market drew to a close on Friday with the benchmark Straits Times Index (STI) up for the day by 16 points, or 0.47 per cent, to 3,449.54.

About 2.1 billion shares changed hands, worth S$1.21 billion in all.

Gainers outnumbered losers 231 to 203.

Thursday's warning from the Monetary Authority of Singapore, about "excessive exuberance" in the property market, has not put an end to the party for real estate stocks.

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City Developments added S$0.02, or 0.17 per cent, to S$12.13.

CapitaLand grew by S$0.04, or 1.13 per cent, to S$3.57.

And GuocoLand was up by S$0.02, or 0.96 per cent, to S$2.10.

The two busiest counters for the day - both losers - were Allied Technologies and New Wave Holdings.

Allied Tech dipped by half a Singapore cent, or 5.95 per cent, to 7.9 Singapore cents, with 135.4 million shares changing hands.

The company earlier announced that it had received the last pot of cash that it was owed for last year's sale of a Chinese unit.

Catalist-listed aluminium distributor New Wave lost 0.1 Singapore cent, or 7.14 per cent, to 1.3 Singapore cents, on a turnover of 94.6 million shares, after the collapse of real estate tycoon Koh Wee Meng's takeover bid.

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