Singapore shares close higher on renewed optimism

The Straits Times Index ended up 0.63 per cent on Jan 23, 2018, with more than 2.5 billion shares changing hands. ST PHOTO: DESMOND WEE

SINGAPORE shares ended higher on Tuesday (Jan 23), bolstered by renewed optimism on Wall Street after US senators struck a deal to end a three-day government shutdown.

The benchmark Straits Times Index ended at 3,592.08, up 0.63 per cent, or 22.65 points. More than 2.5 billion shares, worth $1.8 billion, changed hands.

Gainers outpaced losers 325 to 182.

DBS continued to power ahead, ending at $26.84 a share, up 40 cents, or 1.5 per cent, with more than 10 million shares traded.

Offshore marine-related Sembcorp Marine extended gains as more analysts upgraded the stock.

It closed at $2.57, up 18 cents, or 7.5 per cent on more than 33 million shares.

UBS Investment Research on Tuesday upgraded its rating on Sembcorp Marine to a "Buy" call and lifted its target price to $3.06 from S$1.85 previously.

It said SembMarine is expected to see a revival of new orders to $4 billion in 2018, ending a two-year slump.

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