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Politics : Formerly About Applied Materials

AMAT 268.79

+4.6%

Jan 2 3:59 PM EST

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To: StanX Long who wrote (61015)	2/27/2002 2:54:02 AM
From: StanX Long	Read Replies (1) of 70976

Singapore shares rise as blue chips shine Wednesday February 27, 1:42 PM sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares expanded their gains by midday on Wednesday on hopes they would benefit from a recovery in the city state's recession-stricken economy. The rise was led by banks and government-linked giants like Singapore Airlines and Keppel Corp . The gains came after a surprise rebound in January manufacturing output on Tuesday -- the first expansion since April -- fostered optimism the worst may be over for Singapore. The finance index, weighted largely with banks, rose 2.21 percent to 1,485.15 points, its highest level this week. The jump helped to lift an otherwise cautious market and boost the benchmark index over the 1,700-point psychological level after an overnight dip on Wall Street. The Straits Times Index was up 1.79 percent or 30.13 points at 1,712.53, the highest level this week. "If you want to buy the recovery story, certainly you have to consider the banks," said David Lum, banking analyst at Daiwa Institute of Research.

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