Singapore shares rose, largely in line with regional
bourses, with Myanmar-focused property developer Yoma Strategic
Holdings Ltd surging after a share sale launch and
U.S. President Barack Obama's historic visit to the country.
The Straits Times Index was up 0.5 percent at
2,966.50, while MSCI's broadest index of Asia-Pacific shares
outside Japan was 0.7 percent higher on hopes of
a compromise in the U.S. fiscal crisis.
Yoma is raising about $83 million in the share sale to fund
the building of a luxury real estate project in the frontier
market, coinciding with Obama's visit.
Yoma shares rose as much as 14 percent on volume of around
79 million shares, 3.7 times the average full-day volume over
the past 30 days. Yoma was the top traded stock by value in the
Big-cap gainers include property developer City Developments
Ltd and oil rig builder Sembcorp Marine Ltd,
each up more than 2 percent.
1345 (0545 GMT)