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Singapore shares finish week on firm note after property news
THE Straits Times Index over the course of this week first rose to a new 12-month high when it closed at 3,145.29 on Wednesday but then came under pressure on Thursday when oil prices plunged 5 per cent. It then recovered on Friday after news that some property curbs are to be loosened slightly. With the STI gaining 14.51 points on Friday at 3,133.35, the gain for the week was 11 points or 0.4 per cent.
Turnover, which for January and February consistently rose above S$1 billion per day, tapered off this week to an average of S$1.05 billion between Monday and Thursday.
On Friday, with the boost from a spurt of interest in property stocks, volume amounted to 2.6 billion units worth S$1.4 billion. Excluding warrants, the advance-decline score was 269-195.