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Singapore market rebounds as investors snatch up bargains

Singapore market rebounds as investors snatch up bargainsSingapore - Singapore stocks rose 4.99 per cent Monday as investors went bargain hunting, but analysts warned of continuing volatility ahead.

The Straits Times Index rose 89.55 points to 1,883.75.

Gainers outnumbered losers by 422 to 125, and volume was high with 1.64 billion shares traded.

The market is recovering from oversold positions, said Stephanie Wong, head of research at Kim Eng Securities Pte Ltd in Singapore.

Holiday weekend claims 41 lives on Polish roads

Warsaw - The All Saints' holiday weekend claimed 41 lives, while 533 were injured as 1,416 drivers were pulled over for drunk- driving across Poland, Polish media reported on Monday.

Poles celebrated the Christian holidays of All Saints' Day on Saturday and All Souls' Day on Sunday. Christians traditionally visit the graves of relatives on the two days.

Many visited cemeteries to put candles and flowers on the graves of their loved ones, often travelling for hours and making several stops to visit relatives.

Weekend fog made road conditions worse, police said, and many of the accidents involved drivers breaking the speed limit.

Thai shares jump 7.84 per cent in tandem with region's bourses

Thai shares jump 7.84 per cent in tandem with region's boursesBangkok - Thai shares jumped 7.84 per cent Monday on good news for banks and energy stocks and the avoidance of political violence in Bangkok over the weekend.

The Stock Exchange of Thailand (SET) index ended at 449.19, up 32.66 points, on modest trade amounting to 17 billion baht (494 million dollars).

"Thai stocks were following other markets today," said Phuwadon Larpudomsuk, an analyst at Asia Plus Securities.

Singapore Exchange seeks more listings from China with agreement

Singapore - Singapore Exchange Ltd on Monday signed an agreement with the government of China's south-eastern coastal province of Fujian to promote the listing of Fujian companies on the Singapore market.

Twenty-one Fujian firms with a total market capitalization of 4.2 billion Singapore dollars (2.86 billion US dollars) are already listed on the Singapore Exchange.

Fujian's Development and Reform Commission Office agreed to provide guidance to companies that wish to list in Singapore and facilitate regulatory checks and approvals from Chinese authorities, the exchange said.

Media hails world champion Hamilton and Brazil race suspense

Lewis HamiltonHamburg - There was a sigh of relief in Lewis Hamilton's native Great Britain on Monday amid a common agreement around the world that the sport of Formula One had never seen a more dramatic finale.

"Phew Lew," titled The Sun after Hamilton had claimed the world title over Felipe Massa in a "final lap drama" of the season-ending Brazilian Grand Prix on Sunday.

French paper Le Figaro named Hamilton "world champion of suspense" and Britain's Daily Telegraph said he "redefined sporting drama."

EU faces stagnation in 2009, Brussels says

European EconomyBrussels - The European Union's economy is set to grind to a halt in 2009 and only start picking up in 2010, with a deep recession looming in Britain, the EU's executive said Monday.

According to the latest forecasts from the European Commission, the economy of the 27-member bloc is set to grow by just 0.2 per cent in 2009, while the 16 countries which use the euro are set for growth of just 0.1 per cent.

Growth in 2010 should pick up to around 1.1 per cent for the EU and 0.9 per cent for the eurozone.

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