The Singapore stock market on Friday wrote a finish to the two-day slide in which it had fallen more than 55 points or 1.8 percent. The Strait Times Index now rests just beneath the 3,060-point plateau and it expected to open in the green again on Monday.
The global forecast for the Asian markets is upbeat following solid U.S. employment data and an encouraging outlook for interest rates. The European and U.S. markets were sharply higher on Friday and the Asian bourses are expected to open in similar fashion.
The STI finished sharply higher on Friday following gains from the plantation stocks, financial shares and properties.
For the day, the index jumped 46.35 points or 1.54 percent to finish at the daily high or 3,059.23 after moving as low as 2,993.42. Volume was 1.29 billion shares worth 900.2 million Singapore dollars. There were 264 gainers and 142 decliners.
Among the actives, Golden Agri-Resources surged 4.26 percent, while Thai Beverage soared 3.39 percent, Yangzijiang Shipbuilding spiked 3.25 percent, CapitaLand Commercial Trust jumped 2.86 percent, SembCorp Industries climbed 2.80 percent, Ascendas REIT advanced 2.33 percent, Keppel Corp perked 2.24 percent, Genting Singapore gathered 2.06 percent, United Overseas Bank collected 1.63 percent, Comfort DelGro added 1.42 percent, SingTel gained 1.40 percent, Wilmar International accelerated 1.29 percent, Oversea-Chinese Banking Corporation rose 1.27 percent, DBS Group was up 0.87 percent and Hutchison Port Holdings was unchanged.
The lead from Wall Street is broadly positive as stocks surged to the upside on Friday, more than offsetting the sharp pullback a day earlier.
The Dow surged 746.94 points or 3.29 percent to 23,433.16, while the NASDAQ soared 275.35 points or 4.26 percent to 6,738.86 and the S&P jumped 84.05 points or 3.43 percent to 2,531.94. For the week, the Dow added 1.6 percent, the NASDAQ gained 2.3