STI edges up 0.02% as China growth data meets market expectations

SINGAPORE stocks joined their regional peers in heaving a sigh of relief on Monday, after China's much-awaited growth data met market expectations.

The benchmark Straits Times Index (STI) hovered within a narrow band before ending just 0.76 point higher at 3,236.82.

Some 1.97 billion shares worth $926 million changed hands.

Investors were bracing themselves for a downbeat figure for China's second-quarter economic growth data on Monday morning, given last week's bearish trade data.

However, the number eventually came in at 7.5 per cent, meeting market expectations in a Reuters poll.

Regional markets all closed mildly higher on the China growth data, with Hong Kong up 0.12 per cent, Shanghai 0.98 per cent higher and Japan 0.23 per cent in front.