Singapore Shares Climb; Corporate News Dominates Trade — Market Talk

0156 GMT [Dow Jones] Singapore shares are trading higher in mixed trade amid good demand for some banking stocks and rig builder shares. The FTSE Straits Times Index is up 0.7% at 2889.71 points with Oversea-Chinese Banking Corp up 1.3% at S$8.60. United Overseas Bank is up 0.6% at S$18.16, while DBS is down 0.8%, after investors take some profit from the recent rally. Shares of Keppel Corp continue to gain and are up 1.3%, while Singapore Telecommunications is up 0.9% ahead of its first quarter earnings due Thursday. Among the stocks that are weak include Cosco Corp, which is down 1.9%, as investor sentiment remain weak for the stock due to a wider second quarter loss. Shares of Best World International are down 2.1% on profit taking after it hit a 52-week high earlier this week. ([a]

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