Around the World's Markets: Singapore

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The Independent Online
SINGAPORE SHARES closed higher in heavy action as concerns over a possible rate hike in the US receded. The Straits Times index ended at 2,123.97, up 36.55 points or 1.75 per cent.

Dealers said investors who had factored in a quarter per cent rise in rates later today were now speculating that a hike was not a foregone conclusion. Rate sensitive stocks such as properties and banks saw good interest.