US jobs data underpins Singapore stocks

SINGAPORE shares traded mostly higher on the back of better-than-expected US jobs data, though analysts warned jobless claims were still elevated.

Investors cheered as data showing payrolls rose by 4.8 million in June after an upwardly revised 2.7 million gain in the prior month.

The Straits Times Index (STI) opened at 2,648.64 and hit an intraday high of 2,660.27, before closing at 2,652.94 - up 16.25 points, or 0.62 per cent.