Singapore Stock Market May Halt Its Slide On Monday

(RTTNews) - The Singapore stock market has moved lower in two straight sessions, slumping almost 10 points or 0.3 percent in that span. The Straits Times Index now sits just under the 3,825-point plateau although it may find traction on Monday.

The global forecast for the Asian markets is positive on easing tariff tensions between the United States and China. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The STI finished modestly lower again on Friday following mixed performances from the financial shares, property stocks and industrial issues.

For the day, the index slipped 8.14 points or 0.21 percent to finish at 3,823.78 after trading between 3,806.86 and 3,846.85.

Among the actives, CapitaLand Investment added 0.75 percent, while City Developments tumbled 1.19 percent, DBS Group perked 0.02 percent, Genting Singapore tanked 2.00 percent, Hongkong Land surged 9.95 percent, Keppel DC REIT gained 0.48 percent, Keppel Ltd advanced 0.76 percent, Mapletree Industrial Trust retreated 0.98 percent, Mapletree Logistics Trust plunged 2.59 percent, Oversea-Chinese Banking Corporation plummeted 3.87 percent, SATS rose 0.36 percent, Seatrium Limited spiked 1.55 percent, SembCorp Industries sank 0.31 percent, Singapore Technologies Engineering stumbled 1.23 percent, SingTel slumped 0.79 percent, Wilmar International dropped 0.32 percent, Yangzijiang Financial jumped 1.45 percent, Yangzijiang Shipbuilding rallied 0.92 percent and CapitaLand Integrated Commercial Trust, Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail Group, Comfort DelGro and CapitaLand Ascendas REIT were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Friday but a late rally pushed them all into the green by the close.

The Dow rose 20.10 points or 0.05 percent to finish at 40,113.50, while the NASDAQ rallied 216.94 points or 1.26 percent to close at 17,382.94 and the S&P 500 climbed 40.44 points or 0.74 percent to end at 5,525.21. For the week, the NASDAQ spiked 6.7 percent, the S&P 500 surged 4.6 percent and the Dow shot up by 2.5 percent.

The volatility on the day came as traders kept a close eye on the developments on the trade front, with President Donald Trump refuting China's claims that the two countries have not held any trade negotiations.

Several reports citing U.S. businesses also said China has exempted some U.S. imports from its 125 percent tariffs.

In U.S. economic news, the University of Michigan said consumer sentiment in the U.S. deteriorated less than previously estimated in the month of April.

Crude oil futures moved modestly higher on Friday amid signs of easing trade tensions between the U.S. and China. West Texas Intermediate crude for June delivery rose $0.23 or 0.4 percent to $63.02 a barrel. For the week, crude for June delivery tumbled $0.99 a barrel or 1.6 percent.