STI snaps four-day losing streak on upbeat regional data

HAVING drowned in red ink for much of the week, Singapore stocks managed to get some air on Friday with the key barometer closing higher alongside most of its regional peers, thanks to a positive showing in Wall Street and upbeat data from Japan and China.

The Straits Times Index was nowhere close to being on fire like the bitcoin, but it was still a pleasant end to the lull that the bourse was caught up in for the first four trading days of the week, when it was bogged down by volatility in US stocks and a lack of fresh leads amid profit-taking opportunities.

The Straits Times Index jumped 36.5 points or 1.1 per cent to finish at 3,424.64 on Friday. The gains, however, were not enough to push the index into positive territory for the week with the STI losing 24.9 points or 0.7 per cent week-on-week.