SINGAPORE shares closed higher, tracking the better showing on Wall Street, with the Straits Times Index (STI) rising 20.06 points or 0.65 per cent to 3,107.62 points on Tuesday.

Gainers beat losers 291 to 187 on the broader market, with 1.22 billion securities with a total market value of S$1.1 billion traded.

Yangzijiang Shipbuilding closed 8.11 per cent higher at S$1.60, reaching a 52-week peak and emerging as the best STI performer on Tuesday, on news that the world's third-largest container port, Ningbo in China, has resumed operations.

Also, the counter was the top traded stock, with over 112 million shares having changed hands. The China-based shipbuilder reported record-high orders worth US$6.67 billion for 112 vessels secured between January and early this month.  

At the bottom of the performance tally was Genting Singapore, as the probability of it getting a licence to operate an integrated resort with gaming element in Yokohama fell. An anti-casino campaigner won the mayoral election in the Japanese city on Aug 22, prompting some analysts to downgrade the stock.

The gaming counter dropped another 1.26 per cent to S$0.785 on Aug 24, after dipping 1.24 per cent a day earlier.

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Other Asian markets have also rallied.

Australia's S&P/ASX 200 closed 0.17 per cent higher at 7,502.98 points, and Japan's Nikkei 225 rose 0.87 per cent to 27,732.10 points. The Shanghai Composite Index surged 1.07 per cent to 3,514.47 points, while Hong Kong's Hang Seng index closed 2.46 per cent higher at 25,727.92 points.

South Korea's Kospi soared 1.56 per cent to 3,138.30 points. The FTSE Bursa Malaysia Kuala Lumpur Composite Index climbed 2.03 per cent to 1,553.37 points.