Singapore shares rise 0.9% on Friday after Wall Street record close

SINGAPORE - Singapore shares ended the week on a positive note, as another record-breaking finish on Wall Street on Thursday night helped to cap off what was otherwise a disappointing week.

The benchmark Straits Times Index rose 29.72 points or 0.9 per cent to 3,345.32.

There were 251 gainers, versus 140 losers.

Earlier in the week, Asian shares were in the doldrums as Japan unexpectedly fell into a recession and a highly anticipated stock exchange link-up between Hong Kong and Shanghai failed to garner much trading action.

But most regional bourses ended the week higher on bargain-hunting.

Tokyo reversed early losses to end 0.33 per cent higher, while Seoul rose 0.35 per cent. Hong Kong ended a four-day losing streak to rise 0.37 per cent and Shanghai climbed 1.39 per cent.

Sydney, however, fell 0.22 per cent.