April 24, 2014 / 5:16 AM / 4 years ago

Singapore index hits near 11-month high; Singtel shines

SINGAPORE, April 24 (Reuters) - Singtel shares rose to their highest in more than four months on Thursday, while the Singapore index reversed losses from the previous session to rise to a near 11-month high, boosted by better-than-expected tech earnings on Wall Street.

The benchmark Straits Times index rose 0.6 percent to 3,277.1, after touching a high of 3,278.14, a level unseen since last June. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.16 percent.

Shares of Singtel advanced as much as 1.6 percent to S$3.76, its highest since Dec. 2, after the company entered into an agreement to purchase shares in video analytics company Kai Square.

The index was also lifted by better-than-expected earnings on Wall Street, as tech giants Apple and Facebook reported first-quarter earnings that far outstripped forecasts.

Other gainers on the index include SembCorp Industries Ltd and ComfortDelgro Ltd, which both rose 1.5 percent. (Reporting by Andrew Toh; Editing by Gopakumar Warrier)

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