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Singapore stocks: STI resumes Friday afternoon at 3,043.62, up 1% on day

The Singapore Exchange Centre in Shenton Way.

SINGAPORE shares pared the morning's losses and resumed trading on Friday afternoon higher, with the Straits Times Index up 1 per cent, or 30.74 points, to 3,043.62 as at 1pm. 

About 530.5 million shares worth S$389.6 million in total changed hands, with gainers outnumbering losers 195 to 118.

Among top five gainers were local bank United Overseas Bank, up 1.38 per cent to S$24.32, and industrial conglomerate Jardine Cycle & Carriage, up 1.70 per cent to S$35.88. 

DBS Equity Research initiated coverage on Jardine Cycle & Carriage on Friday, with a "buy" call and a target price of S$43.10, citing the company's exposure to South-east Asian economies and diversified earnings.

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