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STOCKS NEWS ASEAN-Genting lifts Singapore shares higher

Fri Mar 23, 2012 6:01am EDT


Singapore shares ended 0.4 percent higher, outperforming other regional bourses due to gains in casino operator Genting Singapore PLC after the government licensed two casino junket operators.

The benchmark Straits Times Index closed up 0.36 percent at 2,990.08, bucking the trend in other Asian markets.

The MSCI Asia Pacific ex-Japan was 0.08 percent down, hurt by worries over a slowdown in the global economy.

"Across the region, Asian equities are still suffering the fallout from yesterday's disappointing factory output data from China and Europe," said IG Markets in a note.

Genting Singapore's shares rose 6.8 percent to S$1.74 with 356 million shares changing hands, nearly 10 times its average daily volume over the last five sessions.

1758 (0959 GMT)

(Reporting by Charmian Kok in Singapore)

Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net

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