Singapore shares close 1.2% up on Wednesday

SINGAPORE stocks ended 1.2 per cent higher on Wednesday, with the Straits Times Index moving up 37.23 points to 3,176.57.

Gainers outnumbered losers 245 to 155, or about eight up for every five down, as 1.30 billion shares worth S$988.4 million in total changed hands.

The most actively traded counter was Rex International with 116.83 million shares traded, falling 5.26 per cent or 0.6 Singapore cent to 10.8 Singapore cents. Other actives included Genting Singapore with 31.02 million shares traded, flat at S$1.03, and YZJ Shipbuilding with 29.47 million shares traded, up 1.8 per cent or two Singapore cents, to S$1.13.

All three banks rose at the closing bell. DBS was up 1.21 per cent to S$25.10, while UOB crept up 0.19 per cent to S$25.98. OCBC Bank closed 0.73 per cent higher at S$11.12.