Singapore index touches 11-month peak; ComfortDelgro shares stutter
Published on May 26, 2014 1:17 PM
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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here