Investors pinned their hopes on thawing trade tensions.
The Straits Times Index (STI) ended 43.57 or 1.42% higher at 3,102.80.
The top active stocks were DBS, which advanced 0.46%, UOB, which inched up 0.57%, OCBC, which grew 0.20%, Singtel, which rose 0.04%, and Genting Sing, with a 0.03% advance.
The FTSE Mid Cap grew 5.59% whilst the FTSE Small Cap rose 2.60%.
According to OCBC Investment Research, U.S. stocks on Monday closed higher, building on Friday’s powerful rally, as investors watched for further signs of a thaw in the protracted trade dispute between the U.S. and China — a tit-for-tat clash that has weighed on investor sentiment.
Nine out of eleven S&P 500 industries ended higher, led by Consumer Discretionary (2.36%) and Energy (1.29%) whilst Utilities (-0.71%) and Consumer Staples (-0.28%) ended lower.
"Following the gains on Wall Street overnight, local sentiment is likely to remain buoyant on optimism that fresh U.S-China trade talks will be productive," said OIR.
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