Singapore shares climbed higher by midday, as investors took comfort in a string of Chinese data that pointed to a year-end rebound for the world’s second largest economy.
CapitaMalls Asia, which owns shopping centres in China and other parts of the region, was among the biggest
gainers on the benchmark Straits Times Index, up 2% at $1.79 at midday.
By 12:37 p.m., the STI was up 0.45% at 3,059.40 points, while the MSCI Index of Asia-Pacific shares outside Japan
rose 0.55%.
China’s economy slowed for a seventh straight quarter in July-September, but industrial production, retail sales and
investment data were all slightly ahead of forecasts.
Triyards Holdings, which was spun out of Ezra Holdings Ltd’s fabrication division, made its market debut in Singapore with strong trading. Triyards shares were traded at $0.855 with over 13.6 million shares traded.
CIMB Research has a target price of $0.86 a share for Triyards, which has an order book of US$200 million ($244 million) and assuming its net earnings for 2013 are $18.5 million.
No comments:
Post a Comment