Investor optimism lifts Singapore shares, STI up 1.3%

SINGAPORE shares climbed on Monday as investor optimism was boosted by positive news both locally and globally.

Amid the extension of deadline for post-Brexit trade talks, continued developments on the vaccine front and in anticipation of the news that the Republic will be entering its next phase of recovery, the benchmark Straits Times Index (STI) gained 1.29 per cent or 36.44 points to close at 2,858.14.

Prime Minister Lee Hsien Loong said on Monday that Phase 3 of Singapore's reopening will start on Dec 28, with gatherings of up to eight people to be allowed. The country has also approved the Pfizer-BioNTech vaccine for use.