STI close up 0.4% on selected blue-chip buying

Singapore - Shares closed in positive territory on Monday, with the Straits Times Index up 14.6 points or 0.4 per cent to 3,301.

Some1.37 billion shares worth a total value of $992.1 million exchanged hands.

There were 184 gainers to 202 losers, while 398 stocks were unchanged.

Analysts said stocks rose on strong performance from selected stocks like banking stocks DBS Group Holdings, United Overseas Bank and OCBC Bank, which were among the day's top gainers.

DBS added 31 cents to $19.65, UOB gained 15 cents to $23.45 while OCBC rose seven cents to $10.20.

Penny stock Compact Metal was the top volume counter, with 165.6 million shares traded. The stock closed 0.4 cent lower at 4.4 cents

Elsewhere, Hong Kong rose 0.83 per cent, Shanghai was up by 2.3 per cent on news that the stock exchanges of both cities will launch a trading link on Nov 17

Seoul rose 0.95 per cent, while Tokyo lost 0.6 per cent and Sydney dropped 0.5 per cent