SINGAPORE (Reuters) - Singapore shares scaled to an 11-month high on Monday, outpacing other regional markets as investors drew relief from upbeat U.S. housing data that lifted Wall Street and due to easing geopolitical tensions in Ukraine.
The benchmark Straits Times Index rose 0.4 per cent to an intra-day high of 3,291.83, a peak not seen since June 2013, outstripping share markets in other Southeast Asian economies which saw moderate losses.
MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, up 0.03 per cent.
US housing data released on Friday showed the number of houses on the market hitting a 3-1/2 year high, while in Ukraine, newly-elected president Petro Poroshenko pledged to negotiate a stable new relationship with Moscow and rescue an economy sapped by post-Soviet mismanagement and chronic corruption.
Gains on the index were led by UOB, which rose 1 per cent, and Thai Beverage, which gained 0.8 per cent.
However, ComfortDelgro shares bucked the trend, trimming gains after a strong surge on Friday. Shares of the transport operator fell 2.1 per cent to $2.33.
Among other stocks, shares of Jes International rose 2.4 per cent after recovering on Friday from 5-year lows.
The shipbuilding firm said on Thursday it had secured a contract for six bulk carriers and five options for construction of a further six vessels worth close to US$1 billion.