STI ends week on upbeat note

THE Singapore bourse bounced back on Friday after snapping a five-day winning streak the day before, inspired by Wall Street's solid overnight showing and encouraging domestic growth data. The key Straits Times Index advanced 32.7 points or 0.9 per cent to finish at 3,501.3 on Friday. Week-on-week, the index is up 59 points or 1.7 per cent after it closed in positive territory in all but one session this week.

Other major Asian bourses closed mixed following the sharp rise in US stocks amid easing of US-China trade tensions and geopolitical concerns. News that US President Donald Trump may consider rejoining the controversial Trans-Pacific Partnership trade pact gave market sentiment a further lift. Key indices in Japan, South Korea, Australia and Taiwan finished higher, while China, Hong Kong and Malaysia ended the week on a lower note.

Singapore released advance GDP estimates for the first quarter - the economy grew 4.3 per cent over the period year-on-year - which was in line with forecasts and indicated that growth has firmed with healthy expansion in the key manufacturing and services sectors.