Market continues to recover from sell-off

FRESH off a rebound last week, regional markets were sprightly again on Monday, bumping Singapore's benchmark Straits Times Index up 44.37 points, or 1.3 per cent, to 3,487.88.

Cyclical counters like Venture (+2.7 per cent), Hi-P International (+9.5 per cent), Sembcorp Marine (+5.6 per cent) and Yangzijiang Shipbuilding (+5.8 per cent) saw the biggest gains.

Real estate investment trusts (Reits) also rose on speculation, subsequently confirmed, that there will be tax parity between investing in individual Reits and investing in Reit exchange-traded funds (ETFs).