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Singapore shares open higher on Tuesday ahead of China PMI data


SINGAPORE'S benchmark Straits Times Index opened at 2,862.73 points, up 6.79 points or 0.24 per cent, at 9.02am on Tuesday, ahead of China manufacturing data and policy meetings of some Asian central banks.

Some 64.7 million shares worth S$217.2 million were traded. Gainers outnumbered losers 80 to 59.

Top stocks traded were Hongkong Land, DBS, Singtel, UOB and OCBC.

On China's manufacturing PMI (purchasing managers' index) data, a research note from French bank Societe Generale said: "We expect only a slight upward move to 50.0 in the official government statistic.

"International trade data from Korea are expected to signal that lacklustre growth continued in November. In Australia, the central bank's (RBA) final meeting before the summer break is highly unlikely to end with a change in policy. Similarly, the Reserve Bank of India (RBI) is likely to keep policy steady."