Singapore's stock market bucked the global trend on Wednesday, with the Straits Times Index (STI) closing higher despite overnight losses in North American and European markets.
The STI fluctuated between 3,141.56 and 3,166.57 throughout the day, ultimately posting a gain of 0.32%, or 9.93 points, to close at 3,154.69.
The upbeat market performance came despite Singapore's non-oil domestic exports falling over 21% year over year in March after edging down 0.2% in February. The city-state posted weak exports to top markets, particularly the US, European Union states, and Japan, according to data from Enterprise Singapore.
In company news, shares of Rex International (SGX:5WH) were down nearly 4% after the company reported total production of 10,086 barrels of oil equivalent per day for March across its plants in Norway and Oman.