At closing bell, the Straits Times Index (STI) index surged 47.55 points, or 1.47% to 3,272.72 after trading between 3,250.49 and 3,273.17. Volume of 1.72 billion shares worth S$1.44 billion changed hands. Across the broader market, advancers outpaced decliners with 385 to 197.
Hongkong Land was the top constituent gainer for the day, rising 3.77% to S$3.03. Yangzijiang Shipbuilding (Holdings) was the top decliner on the STI for the day, down 1.7% to S$1.72.
Banking stocks ended the day higher, with shares of DBS Group Holdings adding 1.61% to S$34.62, Oversea-Chinese Banking Corp rising 1.37% at S$14.02, and United Overseas Bank inclining 2.1% at S$31.09.
In company news, Singapores core inflation eased to 3.1% on-year in March, driven mainly by slower price rises in food and services, data from Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) showed on Tuesday. On a month-on month basis, core inflation - which excludes accommodation and private transport - fell by 0.2% in March. Meanwhile consumer price index, or headline inflation, slowed to 2.7% on-year in March, down from 3.4% in February.
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