STI shoots up on China export surge
S-Reits' negative start to 2016 reverses after Japan's negative rates and global bond yield collapse: Maybank
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A LARGE push on banks on Wednesday helped propel the Straits Times Index (STI) up 75.76 points or 2.69 per cent into the black for 2016 at 2,890.41, after China reported that exports for March increased 11.5 per cent from a year earlier in dollar terms, rebounding from a 25 per cent plunge in February.
Turnover was 1.5 billion units worth S$1.4 billion, more than twice Tuesday's S$664 million which was the lowest daily total this year. Excluding warrants, there were 276 rises versus 132 falls. The STI is now eight points up for the year, only the second time it has been in positive territory for 2016.
Over in North Asia, the China export figures meant the Hang Seng Index rose 3 per cent and the Shanghai Composite 1.4 per cent.
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