Market Update: STI up 1.01% as Asian markets rebound from losses

The Straits Times Index reversed its losses, as it closed up by 31.72 points or 1.01% at 3,186.78 on Thursday.

The reversal was similar across Asian markets, which bounced back from the sea of red recorded the previous day.

Top performers for the day were ComfortDelGro with 2.29% or $1.79 in gains, DBS Group which rose by 2.08% or $28.99, and OCBC which went up 1.96% or $11.95.

About 1.41-billion securities worth $1.24b changed hands, with stock advancers outnumbering decliners, 273 to 203.

On Wall Street, all three benchmarks fell across the board as US President Joe Biden plans to propose a capital gains tax hike.

S&P 500 slipped 38.44 points or 0.92% at 4,134.98, whilst Dow Jones Industrial fell 321.41 points or 0.94% at 33,815.90. NASDAQ also edged down 131.81 points or 0.94% at 13,818.41.

Meanwhile, the FTSE 100 index closed up 42.95 points, or 0.62%, at 6,938.24, due to higher retail stocks. FTSE 250 also grew 279.14 points, or 1.26%, at 22,364.87.