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SINGAPORE share prices closed 0.25 per cent higher on Thursday, tracking overnight gains in US stocks on bargain hunting following recent falls, dealers said.
The main Straits Times index closed up 7.15 points at 2,917.92.
Decliners led rising issues 337 to 302 with 1,015 stocks unchanged.
Investors should gradually accumulate select blue chip stocks as the
market's downside looks fairly limited at this stage, said Andrew Beal,
London-based director of Pan Asian Equities at Henderson Global Investors.
'The downside from this point onwards looks fairly limited. Valuations look
reasonable,' Mr Beal said.
Banking shares were mixed, with DBS Group losing 22 cents to 17.00 dollars,
United Overseas Bank up 10 cents at 17.94 dollars and Oversea-Chinese Banking
Corp up seven cents at 7.54 dollars.
Property heavyweights retreated, with CapitaLand falling 14 cents to 5.85
dollars, City Developments down 12 cents at 11.10 dollars and Keppel Land
slipping three cents to 5.49 dollars.
Among blue chips, Singapore Airlines dropped 28 cents to 15.02 dollars and
Singapore Telecommunications was steady at 3.68 dollars. -- AFP
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