STI closes 1% higher at 2,885.71

SINGAPORE (Sept 29): Singapore stocks ended Thursday higher in line with most of its regional peers, thanks to a 5% jump in oil to around US$47 per barrel.

As at 5.04pm, the benchmark Straits Times Index closed 27.7 points or 0.97% higher at 2,885.71. In the broader market, 1.52 billion shares valued at $867.9 million changed hands. Gainers outnumbered losers 239 to 144.

Oil and gas related stocks were the top performers on an agreement among oil producing nations on the need to cut output. Keppel Corp gained 3.8% to close at $5.42, while Sembcorp Marine added 5.6%. Service providers like Ezra Holdings and Ezion Holdings gained. Their stocks were up 5.1% and 3.6% respectively.

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