Singapore's shares closed higher on Monday, buoyed by strong export figures and a broader regional uptrend.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, finished the trading day at 3,859.36, a gain of 23.34 points, or 0.61%. The day's trading saw the STI fluctuate between a low of 3,848.28 and a high of 3,870.74.
The positive performance was largely attributed to the release of encouraging economic data, specifically the significant increase in Singapore's non-oil domestic exports.
Government data revealed a substantial 7.6% rise in non-oil domestic exports for February, a reversal from the 2.1% decline observed in January. This growth was driven by increased shipments across both electronic and non-electronic sectors, signaling a strengthening of Singapore's export-oriented economy.
In company news, shares of Rex International (SGX:5WH) were up over 2% after the company reported February production of 11,310 barrels of oil equivalent per day (BOEPD) from Norway and Oman.
Singapore Technologies Engineering (SGX:S63) finished nearly 2% higher after it awarded 8,508 shares at SG$6.210 per share under its 2020 restricted share plan.
Meanwhile, shares of Yunnan Energy International (SGX:T43, HKG:1298) were up nearly 2% at the close after it booked an attributable profit to owners of HK$491,000 in 2024, compared with an attributable loss of HK$5.0 million a year earlier.
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