Market Update: STI starts December trade with gains

The Straits Times Index ended the Tuesday trade up by 8.17 points or 0.29% at 2,814.12.

The recovery was in react to the latest economic data of China, recording the fastest growth of factory activity in a decade last month.

The gain was also boosted by the investor's sentiment after pharmaceutical company Moderna asked US and UK regulators to allow emergency use of COVID-19 vaccine.

Top gainers for the day were Hongkong Land with 0.12 points to 2.95%, Jardine Matheson with 1.45 to 2.73%, and Jardine Strategic to 2.76% with 0.66 points.

On to the banking sector, DBS Group has finally finished its takeover of India's Lakshmi Vilas Bank.

Meanwhile, London's FTSE 100 also recovered, ending at 6,384.73 up by 1.89%.

FTSE 250 also ended higher by 2.63% at 19,844.81 boosted by vaccine optimism and early Christmas cheers.