The Singapore stock market has moved higher in six straight sessions, surging more than 120 points or 3.5 percent in that span. The Straits Times Index now rests just above the 3,500-point plateau and it's poised to extend its winning streak again on Friday.
The global forecast for the Asian markets is upbeat thanks to optimism ahead of today's job report from the United States, plus another bump in crude oil prices. The European and U.S. markets were up and the Asian bourses are expected to follow suit.
The STI finished sharply higher on Thursday following gains from the financials, plantations, properties and industrials.
For the day, the index climbed 36.88 points or 1.06 percent to finish at the daily high of 3,501.16 after moving as low as 3,465.95. Volume was 2.63 billion shares worth 2 billion Singapore dollars. There were 272 gainers and 163 decliners.
Among the actives, Golden Agri-Resources surged 2.63 percent, while DBS Group soared 2.40 percent, CapitaLand Commercial Trust spiked 2.01 percent, Oversea-Chinese Banking Corporation jumped 1.97 percent, SembCorp Industries climbed 1.92 percent, Wilmar International advanced 1.90 percent, Keppel Corp perked 1.69 percent, CapitaLand gathered 1.39 percent, Thai Beverage tumbled 1.09 percent, Yangzijiang Shipbuilding added 0.66 percent, United Overseas Bank collected 0.45 percent, Global Logistic Properties gained 0.30 percent and Hutchison Port Holdings and Genting Singapore were unchanged.
The lead from Wall Street is positive as stocks opened in the green on Thursday and stayed that way, allowing the major averages to again hit to fresh record closing highs.
The Dow climbed 152.45 points or 0.61 percent to 25,075.13, while the NASDAQ edged up 12.38 points or 0.18 percent to 7,077.91 and the S&P 500 rose 10.93 points or 0.40 percent to 2,723.99.
Early buying interest was generated when payroll processor ADP said private sector employment jumped more than expected in December. But then the Labor Department said initial jobless claims unexpectedly inched higher in the week ended December 30th.
Later today, the Labor Department is due to release its more closely watched monthly employment report for December.
Crude oil futures rose further Thursday as data confirmed another significant drop in U.S. oil inventories. February WTI oil climbed 38 cents or 0.6 percent to $62.01/bbl on Nymex, the highest in more than three years.
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