STI Singapore Index Edges up with Small Gains in Sept

Straits Times Index edges up, set to end Sept with small gains

Singapore's benchmark index rose for the second straight session, but underperformed most of its Southeast Asian peers this month after a weak set of macro economic indicators.

The Straits Times Index ticked up 0.2 percent to 3,066.2 points and was set to end with a monthly gain of 1.3 percent. Most Southeast Asian markets outperformed Singapore this month, helped by investors' increased risk appetite after the U.S. Federal Reserve's third round of quantitative easing.

Asian shares outside Japan rose on Friday on optimism economic reform and budget plans unveiled by Spain will help the debt-saddled nation manage its debt imbalances.

In the local broader market, focus was on ThaiBev after Heineken won full control of the maker of Tiger beer as shareholders of its Asian partner, Fraser and Neave Ltd , voted in favor of selling the conglomerate's stake to the Dutch brewer for $6.3 billion.

Shares in ThaiBev shed 2.2 percent and were the most actively traded, with more than 50 million shares traded by late afternoon. The shareholder vote ended a two-month battle between Heineken and companies linked to Thai billionaire Charoen Sirivadhanabhakdi for control of Asia Pacific Breweries (APB) .