Singapore shares rebound amid gains in regional bourses
Singapore shares managed to snap a five-day losing streak with the key Straits Times Index (STI) gaining 28.18 points or 0.95 per cent to 2,988.27.
The rebound took place on a choppy trading day amidst gains in most other regional bourses and partly due to some selective bargain hunting as the STI has shed over 3 per cent over the five previous trading days.
Trading volumes remained modest with 2.2 billion shares worth $1.03 billion. Gainers led losers 269 to 136 while 378 counters were unchanged.
Amid the string of gloomy and patchy data, Singapore received some upbeat news on Wednesday - manufacturing activity in January rose, beating estimates.