Singapore shares touched to a five-year high, with Southeast
Asia's largest property developer CapitaLand Ltd
extending gains ahead of its results on Friday.
The Straits Times Index was up 0.2 percent at
3342.74, the highest since January 2008, while the MSCI's
broadest index of Asia-Pacific shares outside Japan
was 0.2 percent higher.
CapitaLand shares rose in the consecutive two sessions,
jumping as much as 2.5 percent to S$3.67, a peak since March 8.
"CapitaLand's results are expected to be upbeat, contributed
partly by the rise in Ascott REIT's distribution per unit." said
Shares of Genting Singapore rose as much as 2.7
percent to a one-month high of S$1.52.
Genting Singapore is one of the most actively traded stock
by value in the Singapore market on Friday. Nearly 21 million
shares changed hands, 1.2 times the average full-day volume over
the past 30 days.
Singapore Telecommunications Ltd shares dropped as
much as 1.6 percent to S$3.72, after the Media Development
Authority's decision to make Singtel share Barclays Premier
League content with StarHub Ltd on Wednesday.
DBS Vickers expects the negative impact of this ruling to
be small compared to the size of SingTel's earnings.
1237 (0437 GMT)