Singapore Stocks Set Another Record

Rising to a record close for the second straight day, the Straits Times index added 35.12 points to close at 3,485.76 ahead of the weekend. The benchmark index has now advanced 2.6 percent on the week, with many speculating further gains next week on positive momentum. Helping the Times to advance was heavy bid interest in DBS. Southeast Asia?s largest lender reported profit that beat analyst estimates, rising to $404 million in the first quarter. As a result, shares surged ahead by 60 cents to S$22.80. The sentiment was echoed in shares of United Overseas Bank Ltd., the second largest lender in the region, which advanced 3.1 percent to a record S$23.10.