Singapore shares close up 0.73% on hopes US interest rates would stay low

Singapore - Shares here snapped a three-day losing streak to close 23.86 points or 0.73 per cent higher at 3,296.48.

Some 1.34 billion shares worth $852.2 million changed hands.

There were 266 gainers versus 133 losers while 396 shares were unchanged.

Investors bought into the market again, bolstered by speculation that the United States Federal Reserve would keep interest rates low for a "considerable time".

A report out from China that the country's central bank would inject 500 billion yuan into the top five state-owned banks to increase business lending also helped to lift stocks.

Markets in Greater China rose on the back of the news, with Shanghai up 0.49 per cent and Hong Kong up 1 per cent.

Seoul also went up 0.96 per cent but Tokyo dropped 0.14 per cent while Sydney lost

0.7 per cent.

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