STI gained 0.1% at 3,007.80 pointsby midday

Singapore shares rose slightly, hitting a three-week high, buoyed by a deal to reduce Greece’s debt to keep the near-bankrupt economy afloat.

The Straits Times Index gained 0.1% at 3,007.80 points, while MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.6%.

After 12 hours of talks at their third meeting in as many weeks, Greece’s international lenders agreed on a package of measures to cut Greek debt to 124% of gross domestic product by 2020, and pledged to take further steps to lower the debt below 110% of GDP in 2022.

Commodity trader Olam International was one of the largest losers on the STI, falling 3.6% to $1.60.
Short-seller Muddy Waters released its long-awaited report on Olam on Tuesday, describing the company as a “strong sell”, citing high risk the firm could fail.