Stocks rise again on oil price rally

DELAYS in flight clearance for takeoff due to the weather outside remaining frightful might have kept the Clauses in town longer than expected. Local shares continued to advance on Wednesday, marking a second consecutive session of gains on the back of a crude oil recovery.

Singapore stocks ended 0.4 per cent higher, with the Straits Times Index advancing 12.54 points to 2,898.3. That left it in positive territory for the year but only by a whisker - it was 0.54 per cent up from the end of last year.

The blue-chip index was boosted after crude oil prices had rallied and Wall Street had edged up. The attention was mainly on second-liners, though. About 1.19 billion shares worth S$542.4 million in total changed hands, which worked out to an average unit price of S$0.46 per share, and gainers outnumbered losers at 258 to 149 or about seven up for every four down.