Expect some gains today.
The Straits Times Index (STI) ended 44.76 points or 1.28% higher to 3533.22, taking the year-to-date performance to +3.83%.
The top active stocks were DBS, which gained 2.03%, OCBC Bank, which gained 2.06%, UOB, which gained 2.00%, Venture, which gained 6.51% and Singtel, with a 0.90% advance.
The FTSE ST Mid Cap Index gained 0.75%, while the FTSE ST Small Cap Index rose 0.51%.
According to OCBC Investment Research, US stocks jolted higher in the final hour of trading on Friday, erasing weekly losses as persistent hand-wringing about rising bond yields and the re-emergence of long-dormant inflation receded on Wall Street.
All eleven S&P 500 industries closed higher, led by Utilities (2.66%) and Energy (2.20%). The index advanced 0.55% for the week.
"The strength on Wall Street Friday could keep the local sentiment buoyant today, potentially extending the STI’s gains in the previous session," OCBC said.
Do you know more about this story? Contact us anonymously through this link.