Market Update: STI makes U-turn, reaches 3,100-point level

After a day of slump previously, the Straits Times Index made a U-turn on Thursday, ending the day's trading at 3,106.01, up by 26.29 points or 0.85%.

About 2.41-billion securities worth S$1.85-billion changed hands, with advancers outnumbering stock losers, 306 to 170.

Top performers for the day were Thai Beverage with 3.40% or S$0.025 gain, Genting Sing up by 2.86% or S$0.025, and Singapore Airlines which went higher by about 1.92% or S$0.10.

Most Asian stocks traded higher as investors cheered after US President Joe Biden's US$1.9 trillion stimulus bill was passed by the Congress.

On Wall Street, most US stocks also went higher, as muted inflation data strengthened market players' confidence on equities.

The S&P 500 climbed by 1.04% or 40.53 points to 3,939.34. The NASDAQ meanwhile ended higher by 2.52% or 329.84 points, closing at 13,398.67 while the Dow Jones Industrial jumped by about 188.57 points or 0.58%, reaching 32,485.59.

London's blue-chip index was also boosted by the market cheer, ending up by 0.17% or 11.36 points at 6,736.96. The FTSE 250 went higher by 0.59% or 126.43 points closing at 21,533.10.

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