SINGAPORE - Local shares eked out a small gain on Wednesday after crude oil prices briefly entered a bull market over Tuesday night, which also helped to lift other markets in the region.
The benchmark Straits Times Index increased 9.55 points or 0.28 per cent to 3,417.57.
Elsewhere, Hong Kong gained 0.5 per cent, Tokyo jumped 2 per cent and Seoul went up 0.6 per cent. Shanghai fell 1 per cent.
Prices of benchmark Brent crude oil surged 7 per cent to a one-month high at nearly US$58 per barrel on Tuesday night, though they retreated slightly on Wednesday to end at around US$57 per barrel.
In Singapore, commodities stocks Golden Agri-Resources and Noble Group were among the most actively traded.
Golden Agri rose half a cent to 42.5 cents on 42.6 million shares traded, while Noble increased 2.5 cents to $1.10 with 26.8 million shares traded.
Rigbuilder Keppel Corp also continued its winning streak, rising nine cents to $8.94.
In total, 1.19 billion shares worth $1.23 billion changed hands. Gainers outnumbered losers at 197 to 188, with 402 counters flat.