Singapore shares reversed its earlier losses by midday to extend gains for the third straight session, led by Chinese developer Hongkong Land Holdings.
The benchmark Straits Times Index gained 0.2% to 3,042.54 points by midday. Hongkong Land was the largest gainer, surging 5.7% to $6.34 and tracking the broader gains in China shares, boosted by hopes of policy easing.
Expectations of more policy fine-tuning in the second half to support economic growth also underpinned gains, after Premier Wen Jiabao was reported on Tuesday by official media to have reiterated Beijing’s intention to stabilize growth.
Dividend play SIA Engineering Co Lalso rose 3.7% to $4.23, while Global Logistic Properties,
which owns warehouses in Japan and China, gained 1.8% at $2.29.
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