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Singapore shares hit another new high; 3,000 mark likely in January

Singapore shares hit another new high; 3,000 mark likely in January

Singapore's benchmark Straits Times Index closed the year's trading at a record high Friday, and traders expect it to hit the 3,000 mark in January.
The STI closed up 22.34 points, or 0.8 percent, to finish at 2,985.83 points, its second straight record high.
Volume was strong at 1.84 billion shares, compared with 1.74 billion shares traded Thursday.
In the broader market, gainers led losers 413 to 268.
UOB Economic Treasury Research said it expects the economy to have grown 7.6 percent this year and forecasts it to moderate to 5.2 percent in 2007.
Prime Minister Lee Hsien Loong is expected to give estimates for 2006 and 2007 economic growth in his New Year's message on Sunday.
The most active stock for the second straight day was Genting International, which climbed 14.2 percent to 84.5 Singapore cents.
The company, which won a bid to build Singapore's second casino-resort, saw trading volume of 255.5 million shares _ 14 percent of total trading on the STI.
When queried by the stock exchange, Genting said it did not know of any new information that led to the surge in its share price.
Singapore Telecommunications Ltd. rose 1.2 percent to S$3.28 after the company said it has restored more of its services that were affected by cables damaged in the Taiwan earthquake.
CapitaLand Ltd. rose 2.5 percent to S$6.20 after it said Thursday it is teaming up with two Malaysian partners for a S$283 million residential project in Kuala Lumpur.


Updated : 2021-01-27 06:34 GMT+08:00