Federal Reserve chair Janet Yellen testifies before the Joint Economic Committee on Capitol Hill in Washington on Thursday. (AFP photo)Singapore shares closed nearly 1% higher on Friday, while three out of the five other Southeast Asian markets ended lower in line with broader Asia. The Fed could raise interest rates "relatively soon" if economic data keeps pointing to an improving labour market and rising inflation, Yellen said before a Congressional Joint Economic Committee on Thursday. Singapore's FTSE Straits Times Index climbed for a second straight session, adding 0.9% this week in its second weekly gain, with industrials leading the rise. Indonesian shares fell as much as 1% before closing down 0.4% with technology and energy stocks the biggest losers.

Source: Bangkok Post November 18, 2016 11:21 UTC