STOCKS NEWS SINGAPORE-Index rises; Yoma Strategic surges
Singapore shares rose, largely in line with regional bourses, with Myanmar-focused property developer Yoma Strategic Holdings Ltd surging after a share sale launch and U.S. President Barack Obama's historic visit to the country.
The Straits Times Index was up 0.5 percent at 2,966.50, while MSCI's broadest index of Asia-Pacific shares outside Japan was 0.7 percent higher on hopes of a compromise in the U.S. fiscal crisis.
Yoma is raising about $83 million in the share sale to fund the building of a luxury real estate project in the frontier market, coinciding with Obama's visit.
Yoma shares rose as much as 14 percent on volume of around 79 million shares, 3.7 times the average full-day volume over the past 30 days. Yoma was the top traded stock by value in the Singapore market.
Big-cap gainers include property developer City Developments Ltd and oil rig builder Sembcorp Marine Ltd, each up more than 2 percent.
1345 (0545 GMT)
- Tweet this
- Share this
- Digg this
- Wreckage of Air Algerie plane carrying 116 people found in Mali |
- Liberian man in Lagos being tested for Ebola
- French warplanes search Mali desert for crashed Air Algerie plane |
- Shelling of Gaza school kills at least 15; toll nears 800 |
- At least 15 killed by shelling of Gaza school; toll exceeds 760 |