LAST month's better-than-expected job data in the United States and smaller-than-expected export decline reported by China on Monday helped lift most Asia's stock markets, including Singapore's benchmark the Straits Times Index (STI). Read more at The Business Times.
LAST month's better-than-expected job data in the United States and smaller-than-expected export decline reported by China on Monday helped lift most Asia's stock markets, including Singapore's benchmark the Straits Times Index .
The STI, with 45.47 points added or up 1.65 per cent to end at 2,796.97 points, continued last week's upward momentum. Singapore's market performance was in line with several regional key indices; Jakarta Composite Index's 5,070.56 points leading with gains of 2.48 per cent. Japan's Nikkei 225 rose 1.37 per cent to 23,178.10 points - its highest closing level since Feb 21.
Last Friday, the US surprised with 2.5 million job additions in May; China's exports were down 3.3 per cent in May, smaller than an expected drop of 6.5 per cent, inspiring confidence that the mainland is on the road of recovery. Pan Jingyi, IG market analyst, was quick to caution against reading too much into any single month-on-month change, particularly during such times of uncertainty - although little looks to be in the way of the positive momentum this week, including the Federal Reserve's meeting where little surprises are expected, she said.
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