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Singapore stocks up 0.57% at midday

Published on Jan 15, 2014 12:38 PM

Singapore stocks were up 17.81 points, or 0.57 per cent, higher at midday, amid a broader rise among Asian bourses.

Asian stocks are paring their biggest slump in three months, after United States retail sales topped estimates and the World Bank raised its global growth forecast.

The MSCI Asia Pacific Index advanced 0.3 per cent to 138.98 as of 12:29 pm in Hong Kong after falling 1.5 per cent on Tuesday, the most since Sept 30.

"We expect stronger global GDP growth," said Mr Stephen Corry, the Hong Kong-based chief investment strategist at LGT Group, a private banking and asset-management firm that oversees about US$115 billion, in an interview with Bloomberg.

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