Overbought Singapore Shares Nonetheless Called Higher On Wednesday

RTTNews | 31 dias atrás
Overbought Singapore Shares Nonetheless Called Higher On Wednesday

(RTTNews) - The Singapore stock market has climbed higher in six straight sessions, rallying almost 290 points or 7.5 percent along the way. The Straits Times Index now sits just shy of the 3,800-point plateau and it's looking at another strong lead for Wednesday's trade.

The global forecast for the Asian markets is positive on optimism that the U.S. and China may scale back their tariff talk. The European and U.S. markets were solidly higher and the Asian bourses are expected to open in similar fashion.

The STI finished modestly higher on Tuesday following gains from the financial shares and property stocks, while the industrials came in mixed.

For the day, the index advanced 36.19 points or 0.96 percent to finish at 3,795.41 after trading between 3,739.40 and 3,823.31.

Among the actives, CapitaLand Integrated Commercial Trust and Hongkong Land both increased 0.95 percent, while CapitaLand Investment improved 1.15 percent, City Developments rallied 2.11 percent, Comfort DelGro strengthened 1.36 percent, DBS Group advanced 1.04 percent, Genting Singapore jumped 1.40 percent, Keppel DC REIT sank 0.49 percent, Keppel Ltd and Venture Corporation both added 0.64 percent, Mapletree Pan Asia Commercial Trust accelerated 1.67 percent, Mapletree Industrial Trust gained 0.50 percent, Oversea-Chinese Banking Corporation collected 0.80 percent, Seatrium Limited surged 4.26 percent, Singapore Technologies Engineering soared 4.25 percent, SingTel climbed 1.33 percent, Wilmar International dropped 0.96 percent, Yangzijiang Financial spiked 2.14 percent, Yangzijiang Shipbuilding tumbled 1.78 percent and Emperador, Thai Beverage, SembCorp Industries, Mapletree Logistics Trust and SATS were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher and improved as the day progressed, ending near session highs.

The Dow surged 1,016.57 points or 2.66 percent to finish at 39,186.98, while the NASDAQ rallied 429.52 points or 2.71 percent to close at 16,300.42 and the S&P 500 jumped 129.56 points or 2.51 percent to end at 5,287.76.

The rally on Wall Street came as traders looked to pick up stocks at reduced levels following the steep drop on Monday, amid lingering trade war concerns and President Donald Trump's continued attacks on Federal Reserve Chair Jerome Powell.

Further buying interest was generated in reaction to reports indicating Treasury Secretary Scott Bessent told a closed-door investor summit he expects the trade dispute between the U.S. and China to de-escalate.

The markets also benefitted from positive earnings news from the likes of 3M (MMM) and aircraft engine supplier GE Aerospace (GE), which both beat the street.

Crude oil moved sharply higher on Tuesday after the Treasury Department announced new sanctions against Iran. West Texas Intermediate crude for May delivery surged $1.23 or 2.0 percent to $64.31 a barrel.

Closer to home, Singapore will release March numbers for consumer prices later today; in February, overall inflation was up 0.8 percent on month and 0.9 percent on year, while core CPI rose an annual 0.6 percent.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 8h 21min atrás
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | 9h 13min atrás
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | 9h 29min atrás
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | 10h 38min atrás
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | 12h 11min atrás
Germany Logs Stronger Growth On Tariff Threats

Germany Logs Stronger Growth On Tariff Threats

The German economy grew at a stronger-than-estimated pace in the first quarter as higher tariff threats by the U.S. administration led to the frontloading of orders for the country's goods, lifting exports and industrial production. Gross domestic product grew 0.4 percent, which was double the initial estimate of 0.2 percent, a detailed report from Destatis revealed on Friday.
RTTNews | 13h 17min atrás
Bay Street Likely To Open On Negative Note On Tariff Concerns

Bay Street Likely To Open On Negative Note On Tariff Concerns

Canadian shares look headed for a weak start Friday morning as tariff concerns resurfaced after U.S. President Donald Trump threatened 50% tariffs on EU goods from June 1. Weak oil prices could hurt energy stocks and add to market's downside.
RTTNews | 14h 24min atrás
FTSE Pares Early Gains, Up Marginally In Cautious Trade

FTSE Pares Early Gains, Up Marginally In Cautious Trade

U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.
RTTNews | 15h 26min atrás