Losing Streak May Continue For Singapore Stock Market

RTTNews | vor 661 Tagen
Losing Streak May Continue For Singapore Stock Market

(RTTNews) - The Singapore stock market has moved lower in four straight sessions, sinking almost 80 points or 2.6 percent along the way. The Straits Times Index now rests just above the 3,290-point plateau and it's looking at another soft start again on Monday.

The global forecast for the Asian markets is murky after inconsistent U.S. employment data. The European markets were up and the U.S. bourses were down and the Asian markets figure to split the difference.

The STI finished modestly lower on Friday as losses from the properties and plantations were mitigated by support from the financial sector.

For the day, the index shed 11.67 points or 0.35 percent to finish at 3,292.39 after trading between 3,287.33 and 3,304.57.

Among the actives, Ascendas REIT tumbled 1.81 percent, while CapitaLand Integrated Commercial Trust retreated 1.00 percent, CapitaLand Investment lost 0.60 percent, City Developments and Keppel Corp both dropped 0.69 percent, Comfort DelGro slumped 0.79 percent, DBS Group spiked 1.45 percent, Genting Singapore fell 0.54 percent, Hongkong Land stumbled 1.67 percent, Mapletree Pan Asia Commercial Trust sank 0.62 percent, Mapletree Logistics Trust shed 0.61 percent, Oversea-Chinese Banking Corporation skidded 0.77 percent, Seatrium Limited advanced 0.75 percent, Singapore Technologies Engineering rose 0.27 percent, SingTel rallied 1.24 percent, Thai Beverage declined 0.83 percent, Wilmar International eased 0.26 percent, Yangzijiang Financial skyrocketed 7.46 percent, Yangzijiang Shipbuilding surged 1.94 percent and SembCorp Industries, Mapletree Industrial Trust, SATS, Emperador and Frasers Logistics were unchanged.

The lead from Wall Street is soft as the major averages opened higher on Friday and spent most of the day in the green before late selling pressure saw them finish slightly under water.

The Dow dropped 150.28 points or 0.43 percent to finish at 35,0.65.62, while the NASDAQ lost 50.46 points or 0.36 percent to close at 13,909.24 and the S&P 500 sank 23.86 points or 0.53 percent to end at 4,478.03.

For the week, the Dow slumped 1.1 percent, the S&P 500 tumbled 2.3 percent and the NASDAQ plunged 2.9 percent.

The volatility on Wall Street came after the Labor Department released a report showing that employment in the U.S. increased less than expected in July, although the jobless rate surprisingly ticked lower.

Following the mixed report, most economists still expect another pause in interest rate hikes by the Federal Reserve next month, although the data has led to some uncertainty about the outlook for rates beyond that.

Crude oil prices climbed higher Friday, extending recent gains amid tightening supply issues after Saudi Arabia and Russia pledged to cut output through next month. West Texas Intermediate Crude oil futures for September ended higher by $1.27 at $82.82 a barrel.

read more
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 | vor 3Std 22 Minuten
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 | vor 3Std 24 Minuten
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 | vor 3Std 59 Minuten
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 | vor 4Std 26 Minuten
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 | vor 4Std 41 Minuten
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

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.
RTTNews | vor 5Std 0 Minuten