Singapore stocks snap 2-day fall as banks, realty advance

Asian shares mixed as crude prices hover near multi-month lows.

Southeast asia stocks rise
An investor walks past an electronic board displaying live market data at a stock broker's office in central Bangkok, Thailand, August 19, 2015 Reuters

Singapore shares rose after two sessions of fall, led by financials and realty stocks but a slump in global crude oil prices on oversupply worries weighed on sentiment.

The Straits Times Index rose 0.43 percent or 14 points to end at 3,215.55. The index had lost nearly 1.5 percent in the last two sessions.

Among the gainers, Oversea-Chinese Banking Corp rose nearly 1 percent, investment holding company DISA advanced 5.9 percent while realty firm City Developments gained 2.6 percent.

The losers included insurance group Great Eastern Holdings fell 0.4 percent while commodity trader Noble Group tumbled 12.5 percent.

About 2 billion shares worth S$1.04 billion changed hands on the exchange.

Asian shares were mixed while european stocks tumbled as oil continued to languish in the bear market. Safe haven assets like the yen and gold rose for a second day.

West Texas oil slipped 0.1 percent to $42.48 a barrel after plunging 2.3 percent in the previous session.

Investors are keeping a close eye on Federal Reserve Governor Jerome Powell's speech later in the day with reports suggesting the central bank official is set to recommend easing stress tests for banks in his testimony to the U.S. senate.