STI rebounds from muted session amid trade data from China

SINGAPORE shares closed higher on Tuesday after Monday's subdued session. The Straits Times Index gained 67.32 points or 2.62 per cent to 2,634.57.

This comes as China reported better-than-expected trade data. Exports in March fell 6.6 per cent compared to the year-ago period - more favourable than the 14 per cent forecast. On the other hand, imports dipped 0.9 per cent compared to the expected 9.5 per cent plunge.

But Stephen Innes, AxiCorp's chief global markets strategist, pointed out that the better figures were due to backlogged export data, which likely skewed the export component higher.