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Three bank stocks rose sharply, driving the local stock market back above 3000 points. Singapore's Straits Times Index rose 26.50 points, or 0.89%, to close at 3000.37 points yesterday.

Today$FTSE Singapore Straits Time Index (.STI.SG) $It opened flat in early trading, up 0.11% so far, and remains above 3000 points. At present, there are 163 rising companies and 164 declining companies in the market, almost half of them.

Analyst point of view

After Singapore's three banks achieved better-than-expected results, bank stocks continued to be sought after by investors, which in turn led to a rise in the sea index. The decline in the global introduction of vaccines and confirmed cases of crown disease also continued to push tourism stocks higher. Next, the market will focus on the meeting of the Organization of Petroleum Exporting countries (OPEC), as well as US non-farm payrolls and unemployment data.

Cai Dongliang, senior investment analyst, research department of Huili securities

The focus of the market returned to the prospect of a global economic recovery, which encouraged Asian stock markets to perform yesterday and to benefit local cyclical stocks. At the same time, steadily rising Treasury yields have kept the market interested in financial stocks.

Pan Xianyi, market strategist at IG

This week's noteworthy data

Some of the market news or data that investors will be watching closely this week include non-farm payrolls data released in the United States on Thursday.

Local stock market news

$FJ Benjamin (F10.SG) $The signing of a memorandum of understanding with local ecommerce platform Lazada to launch a strategic partnership boosted the company's ecommerce performance in Singapore, Malaysia and Indonesia, expanded and developed new brands, and integrated physical and virtual stores.

$Oceanus ^ (579.SG) $Shares tumbled 45.3% to 3.5 cents yesterday morning and were questioned by the Singapore Stock Exchange. The group replied that it was not aware of any unannounced news that led to a sharp fall in its share price and said it continued its efforts to grow its business.

$Cordlife (P8A.SG) $With the permission of the Ministry of Health of Singapore, it has become the first company in Asia to provide corneal microlens storage service OptiQ locally.