Singapore Bourse Expected To Remain Rangebound

RTTNews | 859 days ago
Singapore Bourse Expected To Remain Rangebound

(RTTNews) - The Singapore stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had slipped almost 10 points or 0.3 percent. The Straits Times Index now rests just above the 3,270-point plateau and it's expected to bounce higher again on Friday.

The global forecast for the Asian markets is upbeat after the release of encouraging U.S. inflation data and what it means for interest rates, although it may already have largely been priced in. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The STI finished slightly lower on Thursday following losses from the financials and industrials, while the properties were up and the trusts were mixed.

For the day, the index eased 3.73 points or 0.11 percent to finish at 3,267.78 after trading between 3,253.99 and 3,283.98.

Among the actives, Ascendas REIT was up 0.36 percent, while CapitaLand Integrated Commercial Trust rose 0.50 percent, CapitaLand Investment spiked 1.88 percent, City Developments gained 0.52 percent, Comfort DelGro tumbled 2.48 percent, DBS Group lost 0.40 percent, Genting Singapore jumped 1.01 percent, Hongkong Land rallied 1.68 percent, Keppel Corp slumped 1.24 percent, Mapletree Pan Asia Commercial Trust added 0.57 percent, Mapletree Industrial Trust and Singapore Technologies Engineering both climbed 0.89 percent, Mapletree Logistics Trust sank 0.62 percent, Oversea-Chinese Banking Corporation skidded 0.95 percent, SATS surged 2.49 percent, SembCorp Industries declined 1.46 percent, SingTel advanced 0.89 percent, Thai Beverage dropped 0.69 percent, United Overseas Bank shed 0.56 percent, Wilmar International improved 0.49 percent, Yangzijiang Financial retreated 1.41 percent, Yangzijiang Shipbuilding soared 2.46 percent and Emperador was unchanged.

The lead from Wall Street is upbeat as the major averages shook off early weakness on Thursday and finally settled solidly in positive territory.

The Dow climbed 216.96 points or 0.64 percent to finish at 34,189.97, while the NASDAQ gained 69.43 points or 0.64 percent to close at 11,001.10 and the S&P 500 rose 13.56 points or 0.34 percent to end at 3,983.17.

The strength that emerged on Wall Street followed the release of highly anticipated consumer price inflation data, which largely was in line with forecasts.

The slower price growth eased concerns about the outlook for interest rates, although the Federal Reserve is still widely expected to raise rates by at least 25 basis points at its next meeting.

Oil futures settled higher on Thursday, gaining for a sixth straight session on a weaker dollar and data showing a slowdown in U.S. inflation. West Texas Intermediate Crude oil futures for February added $0.98 or 1.3 percent at $78.39 a barrel.

read more
Canadian Dollar Rises As Inflation Climbs

Canadian Dollar Rises As Inflation Climbs

The Canadian dollar advanced against its most major counterparts in the New York session on Tuesday, after a data showed that inflation accelerated in April.
RTTNews | 5h 49min ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland market suffered a mild setback in early trades on Tuesday, but recovered soon and then stayed firm right till the end of the session to finish with a modest gain. Investors tracked corporate news and the developments on the geopolitical front.
RTTNews | 6h 37min ago
European Stocks Recover After Weak Start, Close Broadly Higher

European Stocks Recover After Weak Start, Close Broadly Higher

European stocks closed broadly higher on Tuesday amid easing tariff worries, and expectations that Russia and Ukraine would soon begin ceasefire negotiations. The UK-EU trade agreement on Monday contributed as well to the positive mood in European markets.
RTTNews | 6h 57min ago
TSX Extends Gains To 10th Straight Session, Hits New Record High

TSX Extends Gains To 10th Straight Session, Hits New Record High

Canadian shares are up in positive territory Tuesday morning, extending gains to a tenth straight session, amid easing concerns about tariffs, and some brisk buying in gold stocks on safe-haven appeal following Moody's downgrading U.S. credit rating, citing debt concerns. Investors are also digesting a report showing a drop in Canada's annual inflation rate.
RTTNews | 8h 28min ago
Honda Cuts EV Sales, Investment Targets As It Shifts Focus

Honda Cuts EV Sales, Investment Targets As It Shifts Focus

Honda Motor Co., Ltd. announced Tuesday that it is realigning automobile business strategy, with a cut in planned electric vehicle or EV sales ratio, and investment for automobile electrification due to the recent market slowdown. Meanwhile, Honda expects a minimal increase in investment related to Hybrid Electric Vehicle or HEV business.
RTTNews | 9h 29min ago
U.S. Dollar Slides Amid U.S. Tariff Uncertainty

U.S. Dollar Slides Amid U.S. Tariff Uncertainty

The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to fiscal and economic concerns amid uncertainties about U.S. tariffs.
RTTNews | 12h 24min ago