SINGAPORE, Jan. 20 (Xinhua) -- Singapore shares closed 0.1 percent higher on Wednesday, buoyed by continued optimism about additional stimulus under the incoming administration of U.S. President-elect Joe Biden.

U.S. markets rose on Tuesday led by gains in technology and small-capitalization shares after Treasury Secretary nominee Janet Yellen called for a big fiscal act to support the coronavirus-ravaged economy. Biden's stimulus package includes measures like a minimum wage hike and substantial expansion in family and medical leave.

Meanwhile, crude oil prices jumped in Asia on expectations of additional U.S. stimulus that will boost the economy but also weaken U.S. dollars.

MayBank-Kim Eng Retail Research said, "Technically, the Straits Times Index may test the 3,000 points mark with upside objective at 3,086 points and underlying support at 2,920 points."

Singapore's benchmark Straits Times Index inched up 2.85 points to 2,998.77 points. The trading volume was 3.48 billion shares worth 1.52 billion Singapore dollars. Advancers outnumbered decliners 302 to 205.

Among top actives, Thai Beverage rose 1.91 percent to 80 Singapore cents. It revealed that it has been exploring avenues to optimize its asset portfolio and enhance value for shareholders, including the potential listing of its beer business. As part of its ongoing efforts to improve overall operational efficiency, it has undertaken certain internal restructuring to streamline its business and operations.

Among top gainers, Jardine Cycle and Carriage rose 0.63 percent to 22.55 Singapore dollars, while DBS Group Holdings became one of the top losers by falling 0.79 percent to 26.38 Singapore dollars. (1 U.S. dollar equals 1.33 Singapore dollars) Enditem

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