Singapore stocks rose 0.3% on Friday to their highest levels since August as Asian markets gained following U.S. data showing improved labour conditions.
By 10:00 a.m., the benchmark Straits Times Index was up 0.2% at 3,031.95 after advancing to an intra-day high of 3,035.78. The index is up nearly 15% so far this year, in line with a rally in the broader Asian markets.
By 10:00 a.m., the benchmark Straits Times Index was up 0.2% at 3,031.95 after advancing to an intra-day high of 3,035.78. The index is up nearly 15% so far this year, in line with a rally in the broader Asian markets.
“There’s growing optimism over U.S. data and this is helping markets. At this juncture, we have the usual high beta stocks – Genting and others leading the market,” said a trader at a local brokerage.
Container shipping firm Neptune Orient Lines advanced 1.7% and was the biggest gainer in the index, while casino operator Genting Singapore added 1.2%.
Asian shares steadied on Friday, with the MSCI Asia ex Japan rising 0.2%.
No comments:
Post a Comment