Market Update: STI returns to 3,000 point level

The Straits Times Index ended Wednesday trading up by 26.50 points or 0.89%, reaching the 3,000.37 point level.

Most Asian stocks also traded in the green, despite the resurgence of US Treasury bonds yields.

About 3.23 billion securities worth S$1.47b changed hands, with advancers outnumbering decliners, 251 to 229.

Top performers for the day were DBS with a 2% or S$0.54 gain, Venture, which rose  by 1.93% or S$0.37, and ComforDelGro which went higher by 1.88% or S$0.03 per share.

On Wall Street, most US stocks traded lower as tech-based shares in particular lagged, and the February private payrolls growth report turned out to be disappointing, indicating that the labor markets there were still struggling.

The S&P 500 shed 1.31% or 50.57 points to end the day at 3,819.72. The NASDAQ also ended lower by 2.70% or 361.03 points dipping to 12,997.75 while the Dow Jones Industrial declined by about 121.43 points or 0.39% to 31,270.09.

London stocks meanwhile, ended flat as investors increased their inflation expectations for the year.

The FTSE 100 ended up by 0.93% or 61.72 points to 6,675.47. The FTSE 250 also went higher by 1.22% or 258.41 points closing at 21,436.32.