Singapore shares rose to their highest in five weeks on Tuesday, following Wall Street's record close as growing confidence in the U.S. economy underpinned investor risk appetite.
The Straits Times Index was up 0.6 percent at 3,314.19, while the MSCI's broadest index of Asia-Pacific shares outside Japan was flat.
Shares of SingXpress Land Ltd jumped to a near 11-month high of S$0.022 after the property and financial services company announced plans to raise S$226.5 million ($181.30 million) for its venture into the U.S. property market.
The shares rose as much as 29.4 percent, with 281 million shares traded, 6.2 times the average full-day volume over the past 30 days.
SingXpress, which will be renamed SingHaiyi Group, will appoint Neil Bush, the brother of former U.S. president George W Bush, as chairman of the company.
"The appointment of Neil Bush is quite reassuring to the investors," a trader said, adding the announcement was a "game changer" for SingXpress.
To read SingXpress statement, click
1139 (0339 GMT)
