STI closes 0.5% higher at 2,844.62

SINGAPORE (Oct 19): Singapore stocks closed higher on Wednesday, following positive cues from regional peers.

The Straits Times Index ended 0.5% or 13.99 points higher at 2,844.62. The broader market, saw 1.66 billion shares traded, giving a transactional value of $892 million. There were 178 gainers against 187 losers.

United Overseas Bank led the gains among banking stocks. UOB ended 1.2% higher at $18.74. CIMB Research said the bank may post a smaller on-quarter decline in net profit for the July-to-September period compared to its banking peers.

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