Singapore stocks higher by midday, helped by China data

Singapore shares rose on Tuesday as stronger-than-expected economic data from China boosted market confidence and pushed up commodity plays such as Noble Group, reported Bloomberg.

By 1 p.m., the Straits Times Index was up 0.96%, or 26.38 points, at 2,782.87. Around 446.3 million shares were traded, compared with 400.7 million shares traded by the same time on Monday.

Traders expect the STI to remain rangebound.

Shares of commodity trading firm Noble Group jumped as much as 2.3%, while smaller rival Olam International rose 2.6% and palm oil firm Golden Agri gained 1.4%, as firm growth in China eased worries over commodity prices.