Singapore stocks continued their winning streak to a third day on Tuesday, tracking gains in Asian equities and amidst hopes of economic growth recovery ahead of GDP data due Thursday.
Stocks in Asia recovered some of their recent losses as investors took heart from further evidence of strength in the global economy.
Gains on Wall Street overnight also helped MSCI's broadest index of Asia-Pacific shares outside Japan rise 0.5 percent and back towards a decade-high struck earlier this month.
The gains offer some relief after global equities fell from record highs for five straight days to last Thursday as investors became wary of stretched valuations and scant progress on U.S. tax cuts that would boost the world's largest economy.
The Straits Times Index climbed 1.1 percent or 37 points to 3,423. It ended 0.12 percent higher on on Monday, taking the year-to-date performance to about 18 percent.
A Reuters poll on Friday predicted quarter-on-quarter growth in Singapore at 7.4 percent in July-September, on a seasonally adjusted and annualised basis, the fastest pace since the fourth
quarter of 2016.
United Overseas Bank gained 2.1 percent, DBS Group Holdings advanced 2.5 percent while Oversea-Chinese Bank added 2 percent.
Singapore-based agribusiness giant Wilmar International rose 0.6 percent after its unit entered into an agreement with Cargill Palm Plantation for the purchase of Cargill's edible oil facilities in Kuantan, Malaysia.
Noble recovered some lost ground on Tuesday after previous day's fall. Fitch cut the Hong Kong-based commodity trader's credit rating and said a default now "appears probable".
About 2.5 billion shares worth S$1.3 billion changed hands, with gainers outnumbering losers 234 to 204.
