SINGAPORE, April 11 Hongkong Land Holdings Ltd's
shares surged to their highest in more than six
months, while the Singapore index inched down as an escalating
selloff on Wall Street spread to Asia.
The property developer's shares rose as much as 2.4 percent
to an intraday high of $6.85, its highest since Sept. 20.
The benchmark Straits Times Index eased 0.2 percent
to 3,198.56 by 0459 GMT, while MSCI's broadest index of
Asia-Pacific shares outside Japan fell 0.9
Among other gainers, the inter-linked Jardine Matheson
Holdings Ltd, Jardine Cycle & Carriage Ltd
and Jardine Strategic Holdings Ltd regained earlier
losses from the previous day, advancing 1.5 percent, 1.2 percent
and 0.7 percent respectively.
"The Jardine group has a lot of business interests in
Indonesia, so they're moving as a proxy to the Indonesian
elections," said a Singapore-based dealer, attributing the
stocks' movement to uncertainties in Indonesia's political
(Reporting by Andrew Toh; Editing by Anand Basu)