Singapore's FTSE Straits Times Index closed 0.9% higher at 3311.23, amid a risk-on mood in Asian markets, following the release of U.S. January retail sales data.
U.S. retail data posted their biggest rise in almost two years, which showed that consumer demand is holding up despite high inflation, says Saxo Markets market strategist Charu Chanana in a note.
Gains were seen across sectors. Keppel DC REIT added 3.0%, while United Overseas Bank gained 2.7% and Mapletree Industrial Trust closed 2.6% higher. Decliners included Thai Beverage, which fell 3.0%.
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