Markets rise as US-Iran worries recede

SINGAPORE equities along with their regional counterparts reversed Monday's losses, and prices of both gold and oil pulled back as fears of reprisal by Tehran over a US airstrike killing a top Iranian general in Baghdad temporarily receded.

"It's called Turnaround Tuesday for a reason," AxiTrader chief Asia market strategist Stephen Innes said of the recovery seen in the region's markets.

The local benchmark Straits Times Index jumped at the opening bell before holding relatively steady until the end of the session. The blue-chip index closed at 3,247.86, after an advance of 29 points or 0.9 per cent.