Singapore shares continue to climb in shortened trading session

THE Singapore market continued to climb on Tuesday, after Monday's strong Wall Street performance.

The benchmark Straits Times Index (STI) rose 11.07 points or 0.36 per cent to 3,127.29.

It was a shortened trading session which ended on mid-day, with Tuesday being Christmas eve.

The STI is now on a four-session winning streak, with the reduction in United States money-printing last week not having the deleterious effect that some had feared it would.

This time round, local stocks took the cue from New York, as both the Dow Jones Industrial Average and S&P 500 hit new records on Monday due to strong US spending data.

Among the STI stocks, real estate developer CapitaLand rose four cents or 1.3 per cent to $3.02. With the increase it once again crossed the $3 psychological mark, after slipping below the level earlier this month.

Volumes were decent for a half-day of trading.

About 1.31 billion shares worth $426 million changed hands. That slightly beat the volumes of 1.09 billion shares worth $404.1 million on Christmas eve last year.