Tuesday, July 17, 2012

Singapore's STI crosses 3,000-mark

SINGAPORE - Singapore share prices rose 0.5% on Tuesday, breaking through the psychologically important 3,000-mark for the first time since May 3.

The blue-chip Straits Times Index gained 16.05 points to end at 3,014.80, as investors bought ahead of US Federal Reserve Chairman Ben Bernanke's testimony to Congress later Tuesday. Investors speculated that Bernanke will hint at more monetary stimulus.

In the broader market, 1.71 billion shares changed hands, with gainers outpacing losers 200 to 170.

Commodities-related stocks were among the gainers. Golden Agri-Resources gained 4.8% to close at S$0.76, Wilmar International added 2% to close at S$3.66 while Olam International was up 0.3% at S$1.87.

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