The Singapore stock market on Monday halted the three-day slide in which it had dropped more than 90 points or 2.6 percent. The Straits Times Index now rests just beneath the 3,470-point plateau and it’s expected to extend its gains on Tuesday.
The global forecast for the Asian markets remains upbeat following last week’s better than expected employment data from the United States. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.
The STI finished sharply higher on Monday following gains from the financials, properties and plantations.
For the day, the index soared 39.97 points or 1.17 percent to finish at the daily high of 3,467.48 after moving as low as 3,441.20. Volume was 1.4 billion shares worth 900.8 Million Singapore dollars. There were 240 gainers and 179 decliners.
Among the actives, Hutchison Port Holdings surged 3.70 percent, while Yangzijiang Shipbuilding plummeted 1.94 percent, Oversea-Chinese Banking Corporation soared 1.92 percent, DBS Group spiked 1.77 percent, United Overseas Bank collected 1.74 percent, Golden Agri-Resources jumped 1.59 percent, Thai Beverage and Keppel Corp both climbed 1.31 percent, Comfort DelGro tumbled 1.20 percent, CapitaLand Commercial Trust advanced 1.18 percent, SembCorp Industries perked 1.02 percent, City Developments gathered 0.98 percent, Wilmar International added 0.92 percent, SingTel gained 0.62 percent and CapitaLand was up 0.28 percent.
The lead from Wall Street is firm as stocks opened higher Monday and stayed that way throughout the session, allowing the NASDAQ to hit a new record closing high.
The Dow added 178.48 points or 0.72 percent to 24,813.69, the NASDAQ climbed 52.13 points or 0.69 percent to 7,606.46 and the S&P 500 rose 12.25 points or 0.45 percent to 2,746.87.
The strength on Wall Street came as traders continued to react positively to Friday’s better than expected employment data that