Singapore Stock Market Predicted To Open In The Green

RTTNews | 743 days ago
Singapore Stock Market Predicted To Open In The Green

(RTTNews) - The Singapore stock market has alternated between positive and negative finishes through the last eight trading days since the end of the two-day winning streak in which it had picked up more than 80 points or 2.5 percent. The Straits Times Index now rests just above the 3,285-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets is cautiously optimistic ahead of the FOMC rate decision later today. The European markets were mixed and the U.S. bourses were up and the Asian markets figure split the difference.

The STI finished modestly higher on Tuesday following gains from the financial shares, REITS and industrials, while the properties were mixed. For the day, the index added 21.02 points or 0.64 percent to finish at 3,286.16 after trading between 3,263.67 and 3,288.17.

Among the actives, Ascendas REIT was up 0.36 percent, while CapitaLand Integrated Commercial Trust climbed 1.00 percent, CapitaLand Investment spiked 1.51 percent, City Developments soared 1.56 percent, Comfort DelGro added 0.80 percent, DBS Group improved 0.96 percent, Emperador advanced 0.98 percent, Genting Singapore gathered 0.54 percent, Hongkong Land dropped 0.82 percent, Keppel Corp surged 2.53 percent, Mapletree Pan Asia Commercial Trust increased 0.61 percent, Mapletree Industrial Trust perked 0.44 percent, Mapletree Logistics Trust rose 0.59 percent, Oversea-Chinese Banking Corporation collected 0.55 percent, SATS jumped 1.12 percent, Singapore Technologies Engineering lost 0.54 percent, SingTel gained 0.76 percent, Yangzijiang Shipbuilding rallied 1.33 percent and Yangzijiang Financial, Thai Beverage, Wilmar International, Seatrium Limited, SembCorp Industries and Keppel DC REIT were unchanged.

The lead from Wall Street is upbeat as the major averages opened flat on Tuesday but moved generally higher as the day progressed and ended in the green.

The Dow added 26.83 points or 0.08 percent to finish at 35,438.07, while the NASDAQ climbed 85.69 points or 0.61 percent to close at 14,144.56 and the S&P 500 rose 12.82 points or 0.28 percent to end at 4,567.46.

The higher close on Wall Street reflected a positive reaction to the latest batch of earnings news from big-name companies such as 3M (MMM), chemical giant Dow Inc. (DOW) and General Electric (GE).

Traders also remain optimistic about the Federal Reserve wrapping up its recent series of interest rate hikes ahead of today's monetary policy decision. The Fed is widely expected to raise interest rates by another 25 basis points, but traders are hopeful the rate hike will be the last following recent encouraging inflation data.

In U.S. economic news, the Conference Board released a report showing U.S. consumer confidence improved more than expected in July.

Crude oil futures settled notably higher Tuesday on optimism about increased Chinese demand after policymakers pledged support to shore up growth in the world's second largest economy. West Texas Intermediate Crude oil futures for September gained $0.89 or 1.1 percent at $79.63 a barrel, the highest settlement since mid-April.

Closer to home, Singapore will see June numbers for industrial production later today, with expectations for an increase of 3.8 percent on month and a fall of 6.8 percent on year. That follows declines of 3.9 percent on month and 10.8 percent on year in May.

read more
Commodity Currencies Rise Amid Risk-On Mood, Strong China Export Data

Commodity Currencies Rise Amid Risk-On Mood, Strong China Export Data

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the Asian session on Thursday amid increased risk appetite by the investors, after U.S. President Donald Trump said the U.S. was closing in on the trade deal with China. Traders also remain optimistic about the U.S. Fed cutting interest rates as early as September based on the recent economic data from the U.S.
RTTNews | 40 minutes ago
China Exports Growth Accelerates; Imports Rise Unexpectedly

China Exports Growth Accelerates; Imports Rise Unexpectedly

China's exports logged a robust growth in July as the sharp decline in shipments to the US was offset by the rise in exports to the EU and other markets, official data revealed Thursday. Exports surged 7.2 percent on a yearly basis, following June's 5.8 percent increase, the customs office reported. Exports were forecast to climb 5.4 percent.
RTTNews | 1h 13min ago
UK House Prices Rise At Fastest Pace In 6 Months

UK House Prices Rise At Fastest Pace In 6 Months

UK house prices grew at the fastest pace in six months in July as the property market started to stabilize following the end of the stamp duty holiday, data from the mortgage lender Halifax showed on Thursday. House prices increased by more-than-expected 0.4 percent in July from June. Prices were expected to grow at a steady pace of 0.1 percent in July. Moreover, this was the fastest growth sinc
RTTNews | 1h 53min ago
German Exports Recover In June

German Exports Recover In June

Germany's exports grew for the first time in three months in June despite falling shipments to the US, data from Destatis revealed Thursday. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May. Shipments were expected to rise 0.5 percent. Reflecting the impact of higher tariff, exports to the United States dropped 2.1 percent on a monthly basis.
RTTNews | 2h 24min ago