STI adds 0.3% in range-bound week of trading

THIS week's trading in Singapore was one characterised by market watchers as largely range-bound. The Straits Times Index (STI) made either small gains or losses, and at week's close eked out 9.34 points or a 0.3 per cent gain from last Friday's close of 3,322.64.

On Friday, trading opened following a lacklustre US session and lower-than-expected advanced first-quarter estimates for the Singapore economy. But while the blue-chip index managed to improve later in the session, possibly due to encouraging China trade figures for March, it needed a last hour rally to close at 3,331.98, up just 1.16 points or 0.03 per cent.

IG market strategist Pan Jingyi said: "To some extent, the Chinese exports surprise actually helped to ignite a slight uptick for the STI though it remains to be seen whether the counteracting imports disappointment may suggest weakness into April."