Singapore STI swings back into positive territory, up 2.82%

Singapore's benchmark Straits Times Index (STI) may have had a bearish start on Tuesday like the rest of the Asian bourses, but it quickly shifted back to positive territory about an hour into the morning trade.

After opening more than 1 per cent lower, the STI inched higher to trade around 2,923.62, up 2.82 per cent, or 80.23 points, by 10:24am.

Some 642 million shares, valued at S$814 million, changed hands. Gainers beat losers 264 to 140.

The reound came after the STI plunged 4.3 per cent on Monday, to close at 2,843.39. It was the first time since the height of the 2008 global financial crisis that such a large percentage was wiped out.