Singapore Shares May Inch Higher Again On Thursday

RTTNews | vor 808 Tagen
Singapore Shares May Inch Higher Again On Thursday

(RTTNews) - The Singapore stock market ticked higher again on Wednesday, one day after halting the three-day winning streak in which it had collected more than 15 points or 0.5 percent. The Straits Times Index now sits just beneath the 3,220-point plateau and it may continue to see mild upside on Thursday.

The global forecast for the Asian markets is murky after the Federal Reserve kept interest rates unchanged but said more rate hikes were likely before the end of the year. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to follow the latter lead.

The STI finished modestly higher on Wednesday following gains from the financials and industrials, while the property sector was mixed.

For the day, the index advanced 28.74 points or 0.90 percent to finish at 3,218.14 after trading between 3,194.75 and 3,222.29.

Among the actives, Ascendas REIT added 1.14 percent, while CapitaLand Integrated Commercial Trust accelerated 2.07 percent, CapitaLand Investment spiked 2.75 percent, City Developments advanced 1.31 percent, Comfort DelGro surged 2.78 percent, DBS Group rose 0.84 percent, Genting Singapore lost 0.52 percent, Hongkong Land slumped 1.44 percent, Keppel Corp soared 2.76 percent, Mapletree Pan Asia Commercial Trust was up 0.61 percent, Mapletree Industrial Trust rallied 2.29 percent, Mapletree Logistics Trust strengthened 1.84 percent, Oversea-Chinese Banking Corporation was up 0.65 percent, SATS jumped 1.98 percent, SembCorp Industries improved 1.78 percent, Singapore Technologies Engineering gathered 0.82 percent, SingTel increased 1.22 percent, Thai Beverage tumbled 1.74 percent, United Overseas Bank collected 0.25 percent, Wilmar International gained 1.01 percent, Yangzijiang Financial climbed 1.49 percent, Yangzijiang Shipbuilding perked 0.79 percent and Emperador was unchanged.

The lead from Wall Street offers little clarity as the major averages opened mixed, tumbled after the Fed's policy statement but then rebounded to finish on opposite sides of the line.

The Dow slumped 232.79 points or 0.68 percent to finish at 33,979.33, while the NASDAQ added 53.16 points or 0.39 percent to close at 13,626.48 and the S&P 500 rose 3.58 points or 0.08 percent to end at 4,372.59.

The late-day volatility came after the Fed announced its widely expected decision to pause its interest rate increases following 10 consecutive rate hikes but also forecast additional increases later this year.

However, the central bank's latest projections suggest the Fed plans to resume raising rates later this year, forecasting a rate of 5.6 percent by the end of 2023.

The forecast for additional rate hikes this year comes as the Fed raised its forecast for annual core consumer price growth to 3.9 percent from 3.6 percent.

Crude oil prices pared early gains and drifted lower Wednesday after data showed a notable increase in U.S. crude inventories last week, while a stronger greenback also weighed. West Texas Intermediate Crude oil futures for July sank $1.15 or 1.7 percent at $68.27 a barrel.

Closer to home, Singapore will see jobless data for the first quarter of 2023 later today, with forecasts suggesting an unemployment rate of 1.8 percent - down from 2.0 percent in the three months prior.

read more
German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | vor 1 Tagen
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | vor 1 Tagen
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | vor 1 Tagen
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | vor 1 Tagen
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | vor 1 Tagen