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THE Straits Times Index (STI) has now been above the feel-good 3,000 point mark for a week after strong gains yesterday on positive data from abroad.
Better than expected jobs data in the United States and greater optimism that European policy makers can tackle the euro zone debt crisis fuelled the latest rise.
The good news also led most Asian markets to post significant gains. The STI reached a one-year high of 3,071.82 - up 20.49 points or 0.7 per cent.
Turnover stood at 1.26 billion shares worth $1.12 billion, little changed from last Friday's 1.32 billion shares worth $1.04 billion.
Other Asian markets posted far bigger gains, due to the rosy job picture in the US. Japan's Nikkei 225 gained 2 per cent, Hong Kong's Hang Seng added 1.7 per cent while Australia's S&P/ASX 200 rose 1.2 per cent.
On Friday night, US data showed 163,000 jobs added to the US economy last month, beating a market forecast of a gain of 100,000 jobs. This suggested some improvement in the world's largest economy.
Sovereign bond yields of Spain and Italy also softened - a possible sign of lessening worries in these economies.
On the home front, Jardine stocks continued to lead the rise with Jardine Matheson up $2.76 to $56.16 and Jardine Strategic rising $1.38 to $34.30, adding some 14 index points to the STI.
DBS Group Holdings surged 15 cents or 1 per cent to $14.90 while OCBC rose 11 cents or 1.2 per cent to $9.51. The gains in both banking counters added six index points to the STI.
Noble Group, the third most actively traded with 56 million shares worth $62 million changing hands, rose three cents or 2.8 per cent to $1.105.
Fraser & Neave gained seven cents or 0.9 per cent to $8.22 after its board accepted a bid by Dutch Heineken for Asia Pacific Breweries. Observers say the sale could spark a break-up of the Singapore conglomerate's property and soft drinks businesses.
Sembcorp Industries added five cents or nearly 1 per cent to $5.34. The firm's quarterly net profit rose 9 per cent due to stronger-than-expected performance of its utilities business.
Singapore Exchange gained nine cents or 1.3 per cent to $6.78. The firm said it is buying a 49 per cent stake in the operator of the city-state's wholesale electricity market to develop a market for electricity derivatives.
Hi-P International, one of the few Singapore-listed firms which offer exposure to US' Apple's phenomenal growth, rose one cent or 1.2 per cent to 84.5 cents.
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