Singapore share prices rose 2% on Friday, in line with gains across Asian markets as investors remained optimistic about European Union plans to contain its debt crisis.

The blue-chip Straits Times Index ended 58.15 points higher at 2,905.72. In the broader market, gainers eclipsed losers 335 to 181. Overall volume traded was 2.03 billion shares worth S$2.06 billion.

Property-related stocks performed strongly, in line with their Chinese counterparts which gained on hopes that Beijing would relax its property-tightening measures.

CapitaLand surged 6.2% to S$2.75, while its shopping mall unit CapitaMalls Asia added 3.1% to S$1.335. City Developments gained 2% at S$10.78.

Banks also gained from the lift in sentiment on the eurozone debt crisis.

DBS Group Holdings added 1.7% to S$12.80, Oversea-Chinese Banking Corp closed up 1.1% at S$8.60, while United Overseas Bank gained 0.8% to S$17.49.

Source: CNA