SGX Logo. Reuters

Singapore equities gained for a second day on Friday, led by warehouse giant Global Logistic Properties (GLP) after record S$16 billion sale to a Chinese consortium.

The Straits Times Index gained 1.6 percent or 52 points to 3,287. It ended 0.83 percent lower on Thursday, taking the year-to-date gains to 12 percent.

Positive Asian cues also supported the sentiment.

Asian shares rallied for a fifth session, with MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent to its highest level in two years.

GLP shares, which were suspended, surged 22 percent to S$3.30 after trading resumed in Singapore.

Lenders also rose: United Overseas Bank added 0.8 percent, DBS Group rose 0.2 percent while Oversea-Chinese Banking Corp advanced 1 percent.

Commodity trader Noble Group rose for a fourth session, gaining nearly 2.3 percent after Goldilocks Investment Company raised its stake in the firm.

Shares of United Engineers slipped 1.5 percent, Yanlord Land Group was down 0.6 percent while Perennial Real Estate Holdings gained 1.7 percent following deal announcement.

About 2.7 billion shares worth S$1.8 billion changed hands, with gainers outnumbering losers 290 to 165.