Daily Markets Briefing: STI up 1.2%

As global markets soared.

According to KGI Fraser,  the STI followed China's gains to  stage a recovery in the late-day trading to close higher by 32.91 points or 1.2% to reach 2,885.32.

Chinese markets (Shanghai +2.9%; Shenzhen +3.8%; Hong Kong +3.3%) recovered from a disappointing Monday to go higher despite trading down in the morning trading session.

Investors brushed off China’s poor trade figures (exports -5.5% yoy; imports -13.8% yoy) for August as the Chinese indexes rallied in the afternoon trading session.

Here's more from KGI Fraser:

Gainers include Noble (S$0.535; +3.9%), SIA (S$10.170; +3.3%) and ST Engineering (S$2.970; +3.1%), while losers include Wilmar International (S$2.600; -1.1%), SingTel (S$3.650; -0.6%) and Olam International (S$1.955; -0.3%).

Shares of SGX (S$7.410; +2.9%) were also up after statistics published by the exchange showed an increase in securities trading activity. Daily average traded value for securities in August came in at S$1.5bil, up 35% month on month and 49% yoy.

U.S. stocks (Dow +2.4%; S&P 500 +2.7%; Nasdaq +2.5%) also ended the session higher as main indexes recorded their second-largest daily gains for 2015 following a three-day holiday weekend.

European markets (FTSE 100 +1.2%; CAC 40 +1.1%; DAX + 1.6%) also saw gains despite the mixed economic data from China as global investors renewed optimism that the Chinese government may provide additional economic stimulus measures to boost the country’s slowing economy.