STI up 0.4% on buoyant US economic data, Wall Street record high

Positive economic data from the United States gave a lift to the local stock market on a shortened trading day on the eve of Christmas. -- PHOTO: ST FILE
Positive economic data from the United States gave a lift to the local stock market on a shortened trading day on the eve of Christmas. -- PHOTO: ST FILE

SINGAPORE - Positive economic data from the United States gave a lift to the local stock market on a shortened trading day on the eve of Christmas.

The Straits Times Index closed up 13.4 points or 0.4 per cent at 3,345.91.

Singapore shares rose following another record showing on Wall Street.

The Dow Jones Industrial Average closed up by 64.7 points to 18,024, the first time that it ended above the 18,000 mark.

Not to be outdone, the S&P 500 also finished on an all-time high, as it eked out gains of 3.6 points to 2,082.

Stocks went up after the US Commerce Department revised the country's third quarter gross domestic product to 5 per cent from 3.9 per cent, the best showing since 2003.

Growth improved as US consumers went out shopping to lift spending by 3.2 per cent.