Singapore shares set for biggest gain in nearly three weeks

SINGAPORE Tue Jan 7, 2014 11:42pm EST

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SINGAPORE Jan 8 (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 U.S. growth.

The benchmark Straits Times Index was up 0.5 percent at 3,141.22 by 0420 GMT, in line with a 0.4 percent gain in the MSCI's broadest index of Asia-Pacific shares outside Japan.

Food and beverage company Thai Beverage Pcl advanced as much as 1.9 percent to S$0.55, while DBS Group Holdings Ltd climbed as much as 1.5 percent to a more than four-month high at S$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 percent to S$0.51. The budget airline confirmed a strategic alliance with Cebu Air and said it would sell its entire 40 percent stake in Tigerair Philippines to the country's largest budget carrier Cebu Air for $6 million.

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