Singapore Stock Market May Run Out Of Steam On Friday

RTTNews | 70 dias atrás
Singapore Stock Market May Run Out Of Steam On Friday

(RTTNews) - The Singapore stock market has moved higher in four straight sessions, advancing more than 90 points or 2.4 percent along the way. The Straits Time Index now sits just above the 3,930-point plateau although investors may lock in gains on Friday.

The global forecast for the Asian markets is weak on lingering concerns over tariffs and the health of the world economy. The European and U.S. markets both were slightly lower and the Asian bourses figure to follow that lead.

The STI finished modestly higher on Thursday following gains from the financials and trusts, weakness from the properties and a mixed picture from the industrials.

For the day, the index gained 22.18 points or 0.57 percent to finish at 3,930.49 after trading 3,906.01 and 3,941.98

Among the actives, CapitaLand Integrated Commercial Trust added 0.48 percent, while CapitaLand Investment jumped 1.14 percent, City Developments fell 0.20 percent, Comfort DelGro rallied 1.40 percent, DBS Group collected 0.44 percent, DFI Retail plummeted 4.29 percent, Hongkong Land plunged 2.48 percent, Keppel DC REIT improved 0.46 percent, Keppel Ltd accelerated 2.06 percent, Mapletree Industrial Trust climbed 0.97 percent, Mapletree Logistics Trust spiked 2.33 percent, Oversea-Chinese Banking Corporation advanced 0.83 percent, SATS shed 0.33 percent, Seatrium Limited gained 0.47 percent, SembCorp Industries soared 2.60 percent, Singapore Technologies Engineering surged 5.18 percent, Thai Beverage slumped 0.96 percent, UOL Group sank 0.34 percent, Wilmar International rose 0.30 percent, Yangzijiang Shipbuilding dropped 0.85 percent and Emperador, Genting Singapore, Yangzijiang Financial, Mapletree Pan Asia Commercial Trust, SingTel and Frasers Centrepoint Trust were unchanged.

The lead from Wall Street is soft as the major averages were unable to hold early gains on Thursday, slipping slightly under water by the close.

The Dow shed 11.31 points or 0.03 percent to finish at 41,953.32m while the NASDAQ lost 59.16 points or 0.33 percent to close at 17,691.16 and the S&P 500 fell 12.40 points or 0.22 percent to end at 5,662.89.

The modestly lower close on Wall Street came amid lingering concerns about the economic outlook following the Federal Reserve's monetary policy announcement on Wednesday.

The Fed announced its widely expected decision to leave interest rates unchanged, but forecasts suggest officials still expect to resume cutting rates later this year.

However, the Fed officials also lowered their projections for GDP growth in 2025 to 1.7 percent from 2.1 percent and raised their forecasts for consumer price growth this year to 2.7 percent from 2.5 percent.

Oil prices climbed higher on Thursday after the U.S. slapped fresh sanctions on Iran. West Texas Intermediate Crude oil futures for April closed higher by $1.10 or about 1.6 percent at $68.26 a barrel on the expiration day.

read more
Japan Data On Tap For Friday

Japan Data On Tap For Friday

Japan is scheduled to release a batch of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are April numbers for unemployment, industrial production retail sales, construction orders and housing starts, plus May figures for Tokyo inflation.
RTTNews | 15 minutos atrás
U.S. Dollar Falls After Tariff Ruling

U.S. Dollar Falls After Tariff Ruling

The U.S. dollar weakened against its major counterparts in the New York session on Thursday, as a federal court ruled against Trump's tariffs, dealing a blow to a key part of his economic agenda.
RTTNews | 3h 21min atrás
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | 8h 3min atrás
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | 8h 6min atrás
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | 8h 40min atrás
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | 9h 8min atrás
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | 9h 23min atrás