SINGAPORE, March 26 Singapore stock market
rebounded to hit a two-week high, tracking regional markets that
gained on upbeat U.S. consumer confidence data and lingering
hopes of China's stimulus.
The benchmark Straits Times index was up more than
1.1 percent at 3139.14 as of 0434 GMT. The index fell 0.25
percent on Tuesday. MSCI's broadest index of Asia-Pacific shares
outside Japan was up nearly 1.1 percent.
Noble Group Ltd topped the index, rising as much
as 4.5 percent to an intra-day high of S$1.15, highest in more
than 10 months. By 0436 GMT, 47.1 million shares changed hands,
nearly twice the average 30-day daily trading volume.
The worst performer of the index, Hongkong Land Holdings Ltd
was headed for its biggest daily loss in one week,
declining 2.3 percent to an intra-day low of S$6.24.
Among small caps, Addvalue Technologies Ltd soared
188.9 percent to a more than 10-year high of S$0.182 after it
agreed to sell its stake in one of its units to a Chinese
By 0437 GMT, 143.8 million shares were traded, more than 460
times its average 30-day daily trading volume.
The mobile satellite terminals manufacturing company said
late on Tuesday that it would sell 1.1 billion ordinary shares
it owned in its wholly-owned subsidiary, Addvalue Communications
Pte Ltd, to a Beijing-based firm for a cash consideration of
(Reporting by Brian Leonal; Editing by Anand Basu)