Strong exports data propel local equities

The benchmark Straits Times Index (STI) climbed by 10.81 points, or 0.33 per cent, to 3,298.24 - after hitting a two-year high of 3,287.43 on July 14.
The benchmark Straits Times Index (STI) climbed by 10.81 points, or 0.33 per cent, to 3,298.24 - after hitting a two-year high of 3,287.43 on July 14. PHOTO: ST FILE

SINGAPORE - Local equities continued their upward journey on Monday (July 17) on the back of a jump in exports.

The benchmark Straits Times Index (STI) climbed by 10.81 points, or 0.33 per cent, to 3,298.24 - after hitting a two-year high of 3,287.43 on July 14.

In all, 2.28 billion shares worth S$1.32 billion changed hands across the bourse.

Besides the rebound in Singapore's non-oil domestic exports (Nodx) - which surged 8.2 per cent year-on-year in June for a 9 per cent gain across the first half of 2017 - the Chinese economy also grew faster than expected in the second quarter. Its three-month expansion of 6.9 per cent kept pace with first-quarter growth in the world's second-largest economy.