Singapore shares start the week on a positive note after stocks on Wall Street rallied on Friday following the release of US economic data indicating a slowdown in hiring and increase in unemployment, prompting investors' hope that the US Federal Reserve could start cutting interest rates soon.
During the day, the benchmark Singapore Strait Times Index ranged between 3,292.03 and 3,307.92, ending 0.31% or 10.26 points higher at 3,303.19.
In economic news, an S&P report indicated continued improved conditions in Singapore's private sector despite the purchasing manager's index dropping to 52.6 points in April from 55.7 points in March.
In company news, shares of First Real Estate Investment Trust (SGX:AW9U) were up 2% after it issued over 4 million units to its manager, First REIT Management, as payment for 50% of base fees of the manager's management fee.
Shares of Amara Holdings (SGX:A34) were down nearly 2% after it appointed Tang Wei Liang as the group's new chief financial officer.
