Singapore shares rebounded on Monday, tracking a firmer Asia and Wall Street, as tensions between the United States and North Korea showed signs of easing.
Risk appetite improved amid efforts from U.S. officials to tamp down fears of imminent nuclear war with North Korea.
U.S. stocks indexes snapped three days of losses and ended higher on Friday, as investors bet on slower U.S. rate hikes following weaker-than-expected consumer price data.
The Straits Times Index gained 0.88 percent or 29 points to 3,308. It ended 1.31 percent lower on Friday, taking the year-to-date gains to about 14 percent.
Financials pulled the index higher, with DBS Group Holdings rising 1.2 percent and Oversea-Chinese Banking Corp advancing 1.4 percent.
Media content provider mm2 Asia jumped 3.2 percent after posting a 30 percent jump in quarterly profit, boosted by growth at its North Asia business and strong performance of subsidiaries.
Singapore Medical Group added 1.6 percent after its first-half profit grew more than six times, fueled by growth at its healthcare services segment.
Vallianz Holdings, a provider of offshore support vessels, advanced 8 percent after it posted a 12.5 percent rise in quarterly profit, helped by growth at its Middle East market.
Spackman Entertainment, a South Korean theatrical film production group, announced its proposed acquisition of Take Pictures Pte for an undisclosed amount. Stock closed unchanged at S$0.105.
About 2.2 billion shares worth S$1.2 billion changed hands, with gainers outnumbering losers 234 to 230.
