Market Update: STI back in the green, nears 3,000-point level again

The Straits Times Index made a U-turn on Tuesday trade with a slight uptick of 5.52 points or 0.18%, to end the day's trade at 2,995.92.

Analysts expect the local bourse to reach the 3,200 level as both Singapore's money supply and balance of payments continue to improve.

About 2.93-billion securities worth S$1.4-billion changed hands throughout the trading day, with stock advancers outnumbering decliners, 287 to 195.

Some top performers for the day were Ascendas Reit with a 1.32% or S$0.04 gain, HongkongLand up by 1.54% or US$0.07, and Singapore Airlines which had a modest gain of S$0.05 or 1.17%.

On Wall Street, most US stocks also traded in the positive territory, boosted mainly by tech shares and small caps.

The S&P 500 closed up by 0.81% or 30.66 points to 3,798.91. The NASDAQ also went higher by 1.53% or 198.68 points to 13,197.18, while the Dow Jones Industrial had an upswing by 116.26 points or 0.38% at 30,930.52.

Meanwhile, London's blue-chip index continued trading in the red, dragged lower by retail, travel, and banking stocks.

The FTSE 100 tumbled by 0.12% or 7.70 points at 6,712.95 while FTSE 250 shed about 0.18% or 36.45 points at 20,602.89.