Athens' reform proposal lifts Asian bourses
But the reform deal was still to be discussed at a European summit in Brussels late on Monday; STI's rally was meanwhile driven mainly by Singtel
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DEAL or no deal? No definitive answer had arrived by the time trading closed here on Monday, but hopes that the fates would desist from severing Greece's increasingly frayed thread of life overnight gave a fillip to Singapore shares nonetheless.
The benchmark Straits Times Index rose 0.4 per cent or 14.17 points to 3,315.13, as investors heaved a sigh of relief on news that debt-mired Greece had presented a fresh reform deal that could snatch it from the jaws of default.
Athens' new plan to stave off the catastrophe of a default and possible Grexit lifted markets across most of the region. Hong Kong climbed 1.2 per cent, Tokyo was up 1.3 per cent and Seoul, 0.4 per cent. Markets in mainland China were closed for a public holiday.
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