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Singapore shares up 0.88% to end at near one-year high

The benchmark Straits Times Index (STI) rose 0.88% or 28.87 points to end at 3,300.71, its highest level in nearly a year, as bulls started returning to the markets after a rash of deal-making activity spurred investor appetite.

SINGAPORE: Singapore share prices climbed almost one percent to end at a near one-year high on Thursday.

The benchmark Straits Times Index (STI) rose 0.88% or 28.87 points to end at 3,300.71, its highest level in nearly a year, as bulls started returning to the markets after a rash of deal-making activity spurred investor appetite.

In the latest deal, a unit of Chinese e-commerce giant Alibaba Group Holdings said it will buy a minority stake in Singapore Post for S$312.5 million to help set up an international e-commerce logistics business.

Shares of SingPost soared as much as 12.9 percent to their record high of S$1.75 before retreating to close at S$1.68.

In the broader market, 2.05 billion shares worth S$1.43b changed hands. Gainers beat losers 282 to 165. 

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