Singapore shares rose by midday, snapping two sessions of losses, buoyed by positive data from the U.S. overnight and gains in commodity trader Noble Group and Global Logistic Properties.
By 11:46 a.m., the Straits Times Index was up 0.6% at 3,044.71, while the MSCI index of Asia-Pacific shares outside Japan also climbed 0.6%.
Noble shares rose 2.4% to S$1.295 on expectations of improving earnings, while GLP gained 2.6% to $2.73 after it said it planned to spin its Japanese properties off into a real estate investment trust.
Casino operator Genting Singapore Plc fell 1.5% to $1.325 after its rival Las Vegas Sands Corp posted lower-than-expected earnings amid challenges at its Singapore operations.
Las Vegas Sands on Thursday cited lower “hold” or money won from gamblers at its Marina Bay Sands property in Singapore, where operating income fell to US$166.5 million ($203.5 million) from US$315.4 million in the quarter.
Positive U.S. private sector employment and consumer confidence reports overnight helped to boost sentiment, and business surveys and data released on Thursday showed other big Asian economies were slowly recovering as well.
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