SINGAPORE (THE BUSINESS TIMES) - Singapore shares ended in positive territory on Monday as economic data provided a glimpse of recovery next year.

The Straits Times Index (STI) ended the day at 2,848.78 points, up 35.77 points or 1.27 per cent.

Across the broader market, advancers outpaced decliners 331 to 149, as 5.2 billion shares worth $1.63 billion changed hands.

The Ministry of Trade and Industry yesterday narrowed its 2020 growth forecast contraction to between 6 per cent and 6.5 per cent, from 5 per cent to 7 per cent before. But the gross domestic product is projected to grow by 4 per cent to 6 per cent next year as major economies recover.

IG market strategist Pan Jingyi said that while the headline reading had disappointed slightly against consensus, improvements in economic data estimates, coupled with the positive sentiment going into a fresh week, had aided the Singapore dollar and the local STI in the climb.

The best performer on the blue chip index for the day was Jardine Cycle & Carriage, gaining 4.6 per cent to $21.82.

At the bottom of the table were aviation-related counters including Sats, which dipped 2.2 per cent to $4.08, and Singapore Airlines which fell 0.5 per cent to $4.07.

The most active counter on the STI was Genting Singapore, which edged up 0.6 per cent to 84.5 cents after 40.3 million shares changed hands.

Outside the STI, active counters included Sembcorp Marine which climbed 12.8 per cent to 15 cents; and medtech firm QT Vascular, which fell 22.2 per cent to 0.7 cent.

Elsewhere in Asia, key benchmarks for Hong Kong, Kuala Lumpur, Seoul and Jakarta ended higher. Markets in Japan are closed for a holiday.