STI up after nervous start over pending China data

SINGAPORE stocks overcame a scary start to head into the weekend above water as nervousness over China's pending economic data sparked a morning sell-off.

The Straits Times Index opened yesterday 10.86 points, or 0.35 per cent, under red-tinged water at 3,129.58. But the market found some life at about 10am, and kicked firmly to climb back into breakeven territory by noon. A second surge just before the close took the blue-chip benchmark to 3,147.33, up 6.89 points, or 0.22 per cent, on the day. Gainers and losers were almost evenly matched, with 219 stocks on dry land while 181 still sloshed about.

Fingers pointed at China's pending GDP data release at 10am on Monday for the morning mayhem.