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Singapore: Shares up 1.5%; weakness could persist

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The Singapore market rallied 1.5 per cent on Tuesday, putting an end to over a week's worth of daily declines.

The Singapore market rallied 1.5 per cent on Tuesday, putting an end to over a week's worth of daily declines.

The Straits Times Index climbed 42.9 points to 2,886.29 as banks and energy counters recovered some of their losses.

But some analysts called it a technical rebound, warning that weakness could persist.

Volume jumped to higher than usual, with large-caps in play. About 2.14 billion shares worth S$2.35 billion in total changed hands, which worked out to an average unit price of S$1.10 per share.

The most actively traded stock was commodities trader Noble, which jumped 13.4 per cent or S$0.055 to S$0.465 on 131.6 million shares traded. Other actives included offshore services companies Ezra and Ezion.

Gainers outnumbered losers 326 to 177, or about two up for every one down.