Market Rises; United Pulp Jumps
March 29, 2011
A strong rise in the share price of a few index-linked stocks, albeit in low volumes, also helped pushed the index higher. The 30-share Straits Times Industrials Index rose 24.58 to 2204.03 in volume estimated at 103 million shares. Dealers said speculative interest pushed up the prices of stocks such as property and leisure group Amcol Holdings Ltd., civil engineering company L&M Group Investments Ltd., and paper trading group United Pulp & Paper Ltd.. The top gainer Wednesday was paper trading company United Pulp & Paper, which rose 42 Singapore cents to 1.77 Singapore dollars on 2.3 million shares traded. The stock was traded at a 2011 high of S$2.80 early this year. Other closely followed market indexes also rose. The DBS-50 Index, which is capitalization-weighted with shares from all sectors, was up 3.83 to 566.23. The UOB-OTC index, which tracks Malaysian over-the-counter shares, closed at 1189.22, up 5.98 points.
VastPress 2011 Vastopolis
