Stocks in Singapore closed 1.79 per cent higher on Monday, in line with regional bourses, after meetings of European leaders over the weekend resulted in “good progress” on tackling the eurozone crisis.

Dealers said that sentiment was also boosted by improved manufacturing data from China. HSBC announced on Monday that the preliminary HSBC purchasing managers’ index stood at 51.1 in October, up from 49.9 in September, lifting hopes that the world’s second-largest economy can avoid a hard landing.

The Straits Times Index climbed 48.54 points to end at 2,760.95.

Volume was 1.26 billion shares.

Gainers led losers 344 to 123.

City Developments gained 1.91 per cent to S$10.13, Keppel Corp added 2.68 per cent to end at S$9.19, while Sembcorp Marine rose 4.5 per cent to S$3.98.

Noble Group was up 3.2 per cent at S$1.465, Olam International ended 3 per cent higher at S$2.40, Wilmar International added 1.8 per cent to end at S$5.10, while Golden Agri-Resources rose 0.8 per cent to S$0.620.

Oversea-Chinese Banking Corp rose 3.4 per cent to S$8.32, DBS climbed 2.5 per cent to S$12.12, while United Overseas Bank was up 2.1 per cent at S$16.92.

Source: CNA