Singapore shares rise after US Fed maintains hopes of more money-printing

The Singapore market rose on Thursday, with the benchmark Straits Times Index up 21.36 points or 0.66 per cent to 3,243.29.

Investors were relieved after a policy statement from the United States Federal Reserve did not give any mention that its massive money-printing programme will slow down.

"(There were) no surprises from the Fed, meaning the music of liquidity will go on," said a note from CMC Markets market analyst Kenny Kan.

Across the market there were 212 stocks that rose, 189 decliners and 401 unchanged counters. Some 2.56 billion shares worth $1.02 billion changed hands.

Oil explorer Rex International continued to rise, gaining three cents or 5.3 per cent to 59.5 cents on its second day of trade. The initial public offer price was 50 cents.

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