The Singapore stock market has finished higher now in two straight sessions, collecting more than 60 points or 2.2 percent along the way. The Straits Times Index ended just above the 2,690-point plateau, and now investors are looking forward to extending those gains at the opening of trade on Tuesday.
The global forecast for the Asian markets is firmly positive, thanks to a fresh record high in the price of gold and a modest recovery in the price of oil. Financials, property stocks and telecoms also are expected to provide support. The European and U.S. markets finished solidly higher, and the Asian markets are also tipped to extend recent gains.
The STI finished sharply higher on Monday, drawing support from the plantations and properties.
For the day, the index jumped 35.17 points or 1.3 percent to finish at the daily high of 2,693.38 after dipping as low as 2,663.15.
Among the gainers, Wilmar added 3.2 percent, while Noble Group surged 6.2 percent, Olam International gained 2.8 percent, SembCorp Industries climbed 2.8 percent and City Development was up 0.6 percent.
The lead from Wall Street is sharply higher as stocks staged a substantial rally during trading on Monday, with the major averages seeing some further upside after recent gains. With the upward move, the Dow ended the session at its best closing level in over a year.
The strength in the markets was partly due to optimism generated by indications from the G20 finance ministers that their economic stimulus measures will remain in place until the global economic recovery is assured.
With no first tier economic data on the day, traders looked to some corporate news to guide some of their moves.
British chocolate giant Cadbury Plc (CBY) rejected the latest purchase offer from Kraft Foods (KFT), calling the proposal 'derisory' and noting it is worse than a previous offer due to the drop in the Kraft share price since September.
Earlier in the day, Dish Network (DISH) reported third quarter net income of $81 million, compared with $92 million in the corresponding period in 2008. Total revenue was $2.892 billion, down 1.5 percent from $2.937 billion in the year-ago quarter. Nonetheless, the stock rose by 5.2 percent, reaching its highest closing level in over a year.
In other news, defense contractor Northrop Grumman (NOC) announced that it has agreed to sell its advisory services business TASC, Inc. to a consortium led by General Atlantic LLC and affiliates of Kohlberg Kravis Roberts for $1.65 billion in cash. Shares of Northrop Grumman rose 3 percent, also reaching a one-year closing high.
The major averages continued to perform well going into the close, ending the session at or near their best levels of the day. The Dow rose by 203.52 points or 2 percent to 10,226.94, the NASDAQ gained 41.62 points or 2 percent to close at 2,154.06, and the S&P 500 rose by 23.78 points or 2.2 percent at 1,093.08.
In economic news, the Monetary Authority of Singapore said on Monday that more measures might be required to control speculative momentum in the property market. As Singapore emerges from recession and with the market expecting low interest rates to persist for some time, the risk of a renewed escalation of speculative momentum cannot be discounted, the central bank said in its Financial Stability Review.
The MAS said, "The nature and timing of further measures, if deemed necessary, would have to be balanced against the still uncertain path of economic recovery." Despite, the lingering uncertainties in the domestic and global economy, domestic property market activity has taken on its own dynamic, added the MAS.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.