STI gains as relief rally lifts Asian markets

THE lights were flashing green as Asian equity markets had a relief rally following broad sell-offs on Monday when mainland Chinese markets returned from an extended Chinese New Year break.

While the spread of the novel coronavirus remains the key near-term concern, on Tuesday at least, investors appeared encouraged by the recent slower rate of increases in new cases, although six new cases were confirmed later in the day after the market closed.

Sentiment also lifted after China's central bank injected over US$230 billion into its financial markets this week, as well as by strong January manufacturing data from the US.