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Singapore shares open 11 points higher on Thursday


SINGAPORE share prices opened higher on Thursday with the Straits Times Index up 11.01 points to 2,737.97 as at 9am.

US markets rose overnight, while oil futures gained. Attention is also building over China's National People's Congress (NPC), which will convene on March 5 for its annual meeting.

"We expect the 2016 NPC to put a priority on growth stabilisation, while reiterating the commitment to economic adjustment and structural reforms amid a challenging environment," Barclays said in a report this week. "If the NPC endorses a target range of 6.5-7.0 per cent for 2016 GDP growth, we think achieving this will be a difficult task."

Top gainers in early-morning trade in Singapore included DBS, Singapore Airlines and UOB.

Some 29 million shares worth S$56.7 million changed hands, with gainers outnumbering losers 70 to 29.

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