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Singapore shares close nearly 1% higher

SHARE prices in the Singapore bourse bounced back on Friday after the key index snapped a five-day winning streak the day before, buoyed by Wall Street's solid overnight showing and encouraging domestic growth data.

Led by gains in the three banking stocks, the Straits Times Index rose 32.7 points or 0.9 per cent to finish at 3,501.30 on Friday.

The "icing on the cake" was US President Donald Trump's directive to consider the rejoining of the Trans-Pacific Partnership trade pact, said IG Markets' Pan Jingyi.

"Amid the ongoing differences that remain surrounding US-China trade, the semblance of the willingness to look into improving trade ties with Asian markets had been a positive change," she added.

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Friday's turnover in the local bourse came in at 1.4 billion shares worth S$1.3 billion versus Thursday's 1.6 billion shares worth S$1.1 billion. Gainers outnumbered losers with 273 counters up and 151 counters down.

Week-on-week, the index is up 59 points or 1.7 per cent after it closed in positive territory in all but one session this week.