STI up 1.6% on bullish US data, N Korea
Investors cheer strong US jobs growth, slower-than-expected wage inflation and easing Washington-Pyongyang tensions
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IT wasn't quite rocket science to predict that share prices in the local bourse would climb on Monday after strong gains on Wall Street last Friday as traders embraced upbeat jobs data in the world's largest economy and were only too eager to forget - if only temporarily - fears of more aggressive rate hikes and potential trade wars.
The benchmark Straits Times Index rose 55 points or 1.6 per cent to finish at 3,540.19 on Monday, taking its cue from US stocks which rose on February's labour market update that indicated strong payrolls and underwhelming wage inflation.
Other regional bourses had a field day too, with key indices in Japan, China, Hong Kong, Australia and Malaysia off to a strong start to the week. The absence of imminent trade wars further lifted sentiment while markets are expected to keep a close watch on key US CPI to be released on Tuesday.
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