SINGAPORE (Reuters) - Singapore shares snapped a three-day losing streak on Wednesday, on course for their biggest daily gain in nearly three weeks after robust trade data raised expectations for US growth.
The benchmark Straits Times Index was up 0.5 per cent at 3,141.22 by midday, in line with a 0.4 per cent gain in the MSCI's broadest index of Asia-Pacific shares outside Japan.
Food and beverage company Thai Beverage advanced as much as 1.9 per cent to $0.55, while DBS Group Holdings climbed as much as 1.5 per cent to a more than four-month high at $17.30.
Singapore's biggest bank, DBS, also topped the list of most traded stocks by value on Wednesday with more than 1.9 million shares traded. Brokerage CIMB's recommended it as its top sector pick in a research note on Tuesday.
Among other stocks, shares of Tiger Airways fell 1 per cent to $0.51. The budget airline confirmed a strategic alliance with Cebu Air and said it would sell its entire 40 per cent stake in Tigerair Philippines to the country's largest budget carrier Cebu Air.