Singapore shares ended higher on Thursday, buoyed by a rise on Wall Street after the US Federal Reserve gave a rosier outlook on the US economy but kept its Fed funds rate unchanged in a range of zero to 0.25 percent in order to nurse a still-fragile recovery.
Singapore's key Straits Times Index rose 1.90% or 51.42 points to 2,757.68, snapping a recent run of losses. Overall volume was 1.58 billion shares worth S$1.57b. There were 418 gainers and 119 losers.
The Fed's unchanged view on interest rates "was in line with the market's expectations, but the Fed's better economic assessment is lifting sentiment," Tachibana Securities operating officer Kenichi Hirano told Dow Jones Newswires.
US President Barack Obama's State of the Union address was also watched closely by investors after his recent proposals to limit the size and scope of the US banking sector sent global markets plummeting over the past week.
However, Obama buoyed sentiment with a pledge to make job creation a top priority in 2010, but added he would continue financial reform to fight against excessive speculation.
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