Singapore shares marched higher by midday on growing hopes of further stimulus measures from the U.S., and Singapore Airlines outperformed the broader market after it swung to a quarterly profit.
By 1:07 p.m., the benchmark Straits Times Index was 1% higher at 3,022.00 points. IHH Healthcare shares extended gains following its market debut on Wednesday, rising 3.7% to $1.27.
SIA shares rose 2.4% to $10.95, but casino operator Genting Singapore bucked the trend and fell 3% to $1.245 in heavy trading.
Genting shares dropped after its rival Las Vegas Sands, which owns Singapore’s other casino Marina Bay Sands, reported poor second-quarter earnings.
Morgan Stanley said MBS’ VIP volume in April-June fell 10% from the previous three months, with slow mass market growth, and expects Genting’s volumes to remain flat.
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