Singapore shares edge up; SIIC Environment jumps 17 pct
SINGAPORE Oct 16 (Reuters) - Singapore stocks ticked higher as regional markets were mostly steady on cautious optimism that frantic talks in Washington would lead to a deal and avoid a potential U.S. debt default.
Among local gainers, telecom firm StarHub Ltd rose 2.3 percent. Singapore's benchmark index advanced 0.2 percent to 3,172.4.
In the broader market, water treatment company SIIC Environment Holdings Ltd jumped as much as 17.3 percent to a four-year high on news it was raising S$260.2 million ($210 million) by selling new shares to investors including Chinese sovereign wealth fund CIC and private equity firm RRJ Capital.
Shares in Singapore Exchange Ltd, which reports first-quarter results on Thursday, eased 0.4 percent. DBS Vickers Securities said it expects a soft quarter, with revenue set to fall 10 percent. It retained its "hold" rating.
It said daily average trading volume was high in the quarter due to strong market activity for small capitalised stocks, but average trading value declined 18 percent quarter-on-quarter.
- Exclusive: Secret contract tied NSA and security industry pioneer |
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon |
- Target probe eyes overseas hackers; stolen cards for sale online
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |