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Singapore hits 21-month peak; Philippines slips as traders gear up for IPOs


By Anusha RavindranathREUTERS - Singapore shares scaled a 21-month peak on Monday on upbeat corporate earnings, while Philippine shares closed lower as traders booked profits ahead of two major share offerings over the next couple of weeks. Singapore shares hit their highest level since July 2015 and closed 0.27 percent firmer with financials and consumer stocks driving the gains. "Positive corporate earnings and banks drove recent gains," said Liu Jinshu, director of research, NRA Capital. "However, the run up has been mainly concentrated among blue chip names. Hence, I am still not ...

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First Published: Mon, May 15 2017. 16:20 IST