SingTel up on positive earnings, leading Singapore index gain
SINGAPORE (Reuters) - Shares of Singapore Telecommunications rose to a one-month high on Thursday on positive earnings, while the Singapore index stretched into a sixth straight session of gains.
SingTel, the best performing stock on the index, rose nearly 2 per cent to an intra-day high of $3.58, on course for its biggest daily gain in more than two months. Southeast Asia's largest telecommunications operator posted a 6 per cent increase in third-quarter net profit, beating expectations.
The benchmark Straits Times Index inched up 0.3 per cent to 3,044.87 points as of midday, while MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent.
Ocean Sky International was the worst performer on the bourse, slumping as much as 36.5 per cent to $0.127, its lowest in more than two years, after offshore oilfield service firm Ezion Holdings said it had terminated a plan to acquire the company.