STI on upward trend as shares gain 0.5%

THE rally continues. Taking its cue from Wall Street, which saw solid gains as tech stocks drove the Nasdaq to a fresh record and gains in blue chips lifted the Dow Jones Industrial Average up 0.7 per cent on Monday, share prices in the Singapore bourse also closed higher on Tuesday.

After a 1.2 per cent uptick on Monday, the benchmark Straits Times Index (STI) rose 15.68 points, or 0.45 per cent, to finish at 3,483.16 on Tuesday. Some 1.5 billion shares worth S$1.1 billion were traded. Losers outpaced gainers 206 to 185.

Blue chips that led the performance included DBS Bank, up 32 Singapore cents or 1.1 per cent to S$29.12, OCBC, higher by 11 Singapore cents or 0.9 per cent to S$12.88 and property developer City Developments, which gained 12 Singapore cents or 1.1 per cent to end at S$11.48.