Friday 29 Mar 2024
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SINGAPORE (Oct 31): Singapore stocks edged up in the morning after shares in Tokyo headed for their biggest two-week advance in more than a year after US economic growth topped estimates. Resilient earnings from Singapore banks also helped gave the local market a boost.

The Straits Times Index was 0.55% higher at 3,252.19 at 12:45 pm local time with about 588 million shares traded. There were two gainers for every losing stock.

DBS Group Holdings was up 0.8% to $18.48 after the bank this morning said net income rose 17% to $1 billion for the three months ended Sept. 30 from $862 million a year earlier.

UOB was up 2% to $22.92 after reporting last night earnings for the 3Q14 ended Sept rose 18.7% to a record of $866 million from a year ago, led by double-digit growth in both net interest income and non-interest income.

Hisaka Holdings lost 7.4% to 63 cents after the automation-solution provider said four of its shareholders have entered into a placement agreement to raise the company’s free float. A total of 13.4 million consolidated shares will be placed out at 82.5 cents by the vendors, with CIMB Securities as the placement agent.

MTQ Corp also lost 3.4% to $1.265 after the engineering and subsea services group reported 2QFY15 earnings fell 3% to $5.3 million from a year ago despite revenue rising 24% to $80.3 million.

 

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