Singapore- Shares prices were lifted almost 8 per cent at the Singapore Exchange Thursday, but analysts kept a cautious undertone.

The market rode on renewed confidence injected by the US Federal Reserve's decision to cut interest rates and work at a multi-billion dollar currency swap pact, which is to include Singapore.

The Straits Times Index (STI) began a climb back from the start of the opening bell at the exchange. It rose 130.71 points to close at 1801.91, up 7.82 per cent.

The Singapore bourse recorded a high level of activity with volume rising to 1,822.6 million shares. The day ended with 406 counters recording gains and 151 finishing with losses.

However, stock market analysts were cautious, saying the economic and business outlook was still gloomy. Investors will be looking out for corporate earnings to assess the impact of the financial crisis on businesses and industries, the analysts said. (dpa)