Singapore index hits near 11-month high; Singtel shines
Published on Apr 24, 2014 2:02 PM
SINGAPORE (Reuters) - Singtel shares rose to their highest in more than four months on Thursday, while the Singapore index reversed losses from the previous session to rise to a near 11-month high, boosted by better-than-expected tech earnings on Wall Street.
The benchmark Straits Times index rose 0.6 per cent to 3,277.1, after touching a high of 3,278.14, a level unseen since last June. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.16 per cent.
Shares of Singtel advanced as much as 1.6 per cent to $3.76, its highest since Dec 2, after the company entered into an agreement to purchase shares in video analytics company Kai Square.
The index was also lifted by better-than-expected earnings on Wall Street, as tech giants Apple and Facebook reported first-quarter earnings that far outstripped forecasts.
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