SGX gains as robust U.S. data lifts mood

Asian shares advance after an upbeat U.S. jobs data.

A trader gives a thumbs down as he talks over the phone on the floor of the Philippine Stock Exchange in Makati City, Metro Manila. REUTERS

Singapore equities rose on Monday, gaining in tandem with Asian shares following a strong session on Wall Street after an upbeat U.S. jobs data.

The MSCI Asia Pacific Index rose 0.5 percent, the most since June 29, after hitting a five-week low Friday.

Meanwhile U.S. stocks rebounded from the biggest selloff since May on Friday after stronger-than-expected U.S. jobs data reinforced optimism of another rate hike by the Federal Reserve.

U.S. non-farm payrolls jumped by 222,000 jobs last month, beating expectations of a 179,000 gain, data showed.

The Straits Times Index rose 0.54 percent or 17 points to end at 3,246. It closed 0.08 percent higher on Friday, taking the year-to-date gains to 12 percent.

Among the lenders, Oversea-Chinese Banking Corp gained 1 percent, United Overseas Bank advanced 0.7 percent and DBS Group Holdings rose 0.9 percent.

Chemical maker Jiutian Chemical jumped 10 percent after Friday's slump while commodity trader Noble Group climbed 8 percent.

Engineering group Miyoshi gained 2.9 percent after it swung to a third-quarter profit.

Laggards included while Alliance Mineral plunging 15.4 percent and Tiger Balm ointment maker Haw Par down 0.5 percent.

About 1.8 billion shares worth S$779 million changed hands, with gainers outnumbering losers 246 to 197.