Singapore shares end up 0.52%


30/05/2012 23:43 AST  Channel News Asia

Singapore share prices ended 0.52% stronger on Tuesday, in line with regional gains.

Regional stocks rose on hopes that China may unveil fresh stimulus measures to support the world's second largest economy.

Singapore's blue-chip Straits Times Index rose 14.63 points to end at 2,801.85. In the broader market, 1.47 billion shares changed hands, with gainers outnumbering losers 251 to 96.

The improved mood in Asian financial markets comes against a backdrop of strong concerns about the economic and political future of the euro zone although investors are choosing to focus on positive news flow at present, having priced in some more dire economic scenarios in recent weeks.

Reports that Chinese policy makers were expediting approvals for investment projects after Premier Wen Jiabao last week highlighted the need to stimulate growth bolstered market sentiment across the region.

On the Singapore Exchange, commodities-related stocks were among the gainers.

Noble Group rose 3.7% to S$1.115, Olam International climbed 1.8% to S$1.695 while Golden Agri-Resources ended up 1.6% at S$0.655.

But Wilmar International fell 0.5% to S$3.74.

Among the banks, DBS rose 0.38% to end at S$13.34 and UOB climbed 0.46% to S$17.44 but OCBC fell 0.35% to S$8.46.

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