Singapore Stock Market May Challenge 2,700-Point Level

(RTTNews) - The Singapore stock market has moved higher in five straight sessions, gathering more than 110 points or 4.4 percent along the way. The Straits Times Index now rests just beneath the 2,690-point plateau and it's expected to add to its winnings again on Tuesday.

The global forecast for the Asian markets is upbeat on continued optimism for economic recovery from the coronavirus pandemic, despite a rebound by the virus. The European and U.S. markets were sharply higher and the Asian bourses also figure to open in the green.

The STI finished sharply higher on Monday following gains from the financial shares, property stocks and industrial issues.

For the day, the index jumped 36.67 points or 1.38 percent to finish at 2,689.61 after trading between 2,653.37 and 2,696.01. Volume was 1.86 billion shares worth 1.17 billion Singapore dollars.

Among the actives, Yangzijiang Shipbuilding surged 3.70 percent, while Thai Beverage soared 3.60 percent, SembCorp Industries spiked 2.75 percent, Comfort DelGro accelerated 2.70 percent, Wilmar International jumped 1.93 percent, DBS Group climbed 1.85 percent, CapitaLand Commercial Trust gathered 1.69 percent, Singapore Press Holdings perked 1.55 percent, United Overseas Bank rallied 1.53 percent, CapitaLand Mall Trust advanced 1.467 percent, Oversea-Chinese Banking Corporation collected 1.41 percent, Keppel Corp added 1.15 percent, Singapore Exchange gained 1.09 percent, Mapletree Logistics Trust rose 1.00 percent, Ascendas REIT increased 0.92 percent, Singapore Airlines advanced 0.77 percent, CapitaLand added 0.66 percent, Genting Singapore gained 0.65 percent, Singapore Technologies Engineering rose 0.59 percent, SingTel was up 0.40 percent and Mapletree Commercial Trust was unchanged.
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