Singapore - Singapore shares jumped 3.4 per cent Thursday after central banks around the globe, including four in Asia, cut interest rates in a coordinated push to curb the impact of the global financial crisis.

Traders said they were not expecting the rebound to last, pointing out that the banking crisis would not immediately go away.

The Straits Times Index rose 69.1 points to close at 2102.71 as the shares of 278 companies declined and 250 gained.

The central banks of China, South Korea, Hong Kong and Taiwan followed the lead of the US Federal Reserve, the European Central Bank and four other banks in cutting interest rates.

But Carey Wong, research manager at OCBC Investment Research, said trading has seen better prospects, even after the central banks' move, adding that the market, which has been sold down recently, was in a confidence-building period. (dpa)