At closing bell, the Straits Times Index (STI) index surged 20.41 points, or 0.62% to 3,293.13 after trading between 3,282.60 and 3,308.12. Volume of 1.86 billion shares worth S$1.53 billion changed hands. Across the broader market, advancers outpaced decliners with 405 to 205.

DFI Retail Group was the top constituent gainer for the day, rising 4.32% to S$1.93. Jardine Cycle & Carriage was the top decliner on the STI for the day, down 0.98% to S$26.38.

Banking stocks ended the day higher, with shares of Oversea-Chinese Banking Corp rising 0.93% at S$14.15 and United Overseas Bank inclining 0.19% at S$31.15. DBS Group Holdings fell 0.69% to S$34.38.

In company news, Anchun International shares surged over 14% after the company signed a strategic partnership agreement with Stamicarbon through its wholly-owned subsidiary, Hunan Anchun Advanced Technology.

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