The China easing moves helped offset a forecast-busting US jobs report that dented hopes that the Federal Reserve will take a softer approach to hiking interest rates in its battle against inflation.
At closing bell, the Straits Times Index (STI) index was up 8.46 points or 0.26% to 3,267.4 after trading between 3,256.45 and 3,283.17. Volume was 1.53 billion shares worth S$1.11 billion changed hands. There were 400 gainers and 196decliners.
The local banks were mostly higher. UOB rose 0.29% to S$31 and DBS added 0.09% to S$34.50 while OCBC closed 0.25% lower at S$12.18.
In corporate news: TANG Dynasty Treasure shares advanced 2% after construction company increased its offer to take Chip Eng Seng private to S$0.75 per share from the previous S$0.72 per share.
Metech International's shares tumbled 13% after the agreement to acquire the entire share capital of jewellery maker X Diamond Capital lapsed.
Interra Resources shares closed nearly 13% up after announcement that it secured a 12-month extension from the Singapore exchange to meet the requirements to exsit the bourse's watch list.
ECONOMIC NEWS: Singapore Private Sector PMI At 56.2 In November- The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a PMI score of 56.2. That's down from 57.7 in October, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Private sector activity continued to expand at a robust pace midway into the final quarter of 2022 but saw the rate of expansion moderate from October's high. Survey respondents remarked that virus-related disruptions underpinned the slowdown. Indeed, lead times lengthened at a substantial rate in November amid reports of COVID-19 related delays and manpower constraints. Overall demand, including external demand, meanwhile remained a key driver behind the growth in activity but likewise saw the rate of expansion slow in November.
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