STI 2752.60 +12.90
Singapore's benchmark Straits Times Index rose 12.90 points to close at 2,752.60, as investors shrugged off a negative finish on Wall Street on Friday.
Overall volume traded was 1.1 billion shares worth S$1.57b, compared with 1.5 billion shares on Thursday. The Singapore Exchange was closed on Friday for a public holiday.
In the broader market on Monday, gainers outnumbered losers 273 to 179.
Among the gainers, Noble Group rose 4.0% to S$1.81. Macquarie Research, which has an outperform recommendation on the stock, said the group is unlikely to face any refinancing risk in the near term.
Neptune Orient Lines was 3.2% higher at S$1.93, clawing back some of its heavy losses from the month of May.
DBS Vickers said the 12.6% retreat since its first-quarter earnings report earlier this month represents a buying opportunity and that "in view of the improved industry fundamentals and further increases in Transpacific annual contract rates, negotiations for which are currently underway, upside potential outweighs downside risk."
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