Singapore shares end higher on better than expected manufacturing data

The local market ended the week on an optimistic note as Singapore's industrial production numbers fell at a lower-than-expected rate last month.

The benchmark Straits Times Index gained 20.92 points, or 0.64 per cent, to 3,269.31.

Investors likely took some cheer in the fact that industrial output slipped 0.6 per cent in December compared with the same month a year ago, even though economists had predicted a much sharper fall of about 4.8 per cent.

Most blue chips ended higher, with commodities and property stocks leading the pack.

CapitaLand rose four cents to $3.98, while City Developments climbed four cents to $11.30.

Golden Agri Resources, Noble Group, Olam International and Wilmar International also closed in positive territory.

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