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SINGAPORE Jason Kipnis Jersey , Oct. 21 (Xinhua) -- Singapore shares closed 0.68 percent higher on Tuesday as China's economy growth in the third quarter was better than market expectation.


Data showed China's gross domestic product rose 7.3 percent from a year earlier in the third quarter, down from 7.5 percent growth in the second quarter of this year. Still, the latest reading was ahead of market's average forecast of 7.2 percent.


Official data also showed that China's industrial output growth in September accelerated and rebounded from a near-six-year low in August, driven by the government's recent targeted easing measures. Industrial production rose 8.0 percent in September from a year earlier.


The benchmark Straits Times Index rose 21.69 points to close at 3 Francisco Lindor Jersey ,202.74 points. Trading volume was 1.13 billion shares worth 963 million Singapore dollars. Advancers outnumbered decliners 229 to 182, while 527 stocks closed unchanged.


DBS Group Research said "If further earnings downgrades are absent, investors who choose to stay on the sidelines now could be looking back at the present sell down as a missed short-term buy opportunity. We see an initial rebound potential to 3,220 points. Beyond that Edwin Encarnacion Jersey , the next resistance to tackle is 3,284 points."


Voyage Research also said "we reckon that the local market will continue to recover with short term resistance at 3,225 points."


Ramba Energy fell 4.6 percent to 41 Singapore cents. It proposes placement of 37.5 million new shares at a placement price of 40 Singapore cents each. The placement price represents a discount of 8.8 percent to the last volume-weighted average price. The estimated net proceeds of about 14.95 million Singapore dollars will be used mainly for the oil and gas business.


TTJ Holdings closed flat at 36 Singapore cents. It has secured several contracts worth 22 million Singapore dollars to supply structural steelworks for Changi Airport Terminals 1 and 2, Tampines Town Hub as well as civil defense shelter doors. With the addition of these new projects Joe Carter Jersey , TTJ's order book gets lifted to 119 million Singapore dollars to date.


Among the top gainers, UOB rose 1.3 percent to 22.13 Singapore dollars