Rebound Anticipated For Singapore Stock Market

RTTNews | 967 일 전
Rebound Anticipated For Singapore Stock Market

(RTTNews) - The Singapore stock market on Thursday snapped the modest two-day winning streak in which it had collected almost 10 points or 0.3 percent. The Straits Times Index now rests just beneath the 3,250-point plateau although it figures to bounce higher again on Friday.

The global forecast for the oversold Asian markets is upbeat, with bargain hunting on the docket as window dressing before the end of the year. The European and U.S. markets were firmly higher and the Asian markets are tipped to follow suit.

The STI finished modestly lower on Thursday as losses from the financial shares and industrial issues were mitigated by support from the property sector.

For the day, the index shed 17.73 points or 0.54 percent to finish at 3,249.24 after trading between 3,234.93 and 3,257.00.

Among the actives, CapitaLand Integrated Commercial Trust added 0.50 percent, while City Developments rose 0.12 percent, Comfort DelGro declined 0.81 percent, DBS Group retreated 0.79 percent, Genting Singapore and United Overseas Bank both sank 0.52 percent, Hongkong Land advanced 0.88 percent, Keppel Corp fell 0.14 percent, Mapletree Logistics Trust slumped 0.63 percent, Oversea-Chinese Banking Corporation and SATS both tumbled 1.05 percent, Singapore Technologies Engineering gained 0.30 percent, SingTel retreated 0.78 percent, Thai Beverage plummeted 1.45 percent, Wilmar International tanked 1.18 percent, Yangzijiang Financial jumped 1.45 percent, Yangzijiang Shipbuilding plunged 1.44 percent and Ascendas REIT, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, SembCorp Industries, CapitaLand Investment, Emperador, Frasers Logistics and UOL Group were unchanged.

The lead from Wall Street is broadly positive as the major averages opened sharply higher and remained firmly elevated throughout the day, ending near session highs.

The Dow jumped 345.09 points or 1.05 percent to finish at 33,220.80, while the NASDAQ spiked 264.80 points or 2.59 percent to end at 10,478.09 and the S&P 500 advanced 66.06 points or 1.75 percent to close at 3,849.28.

The rally on Wall Street partly reflected bargain hunting, particularly among tech stocks, which moved sharply lower over the two preceding sessions.

Overall trading activity remained subdued amid the holidays, however, with below average volume potentially exaggerating recent moves.

In U.S. economic news, the Labor Department released a report showing first-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended December 24.

Crude oil prices drifted lower Thursday, weighed down by data showing an increase in U.S. crude inventories last week, although a weak dollar limited oil's downside. West Texas Intermediate Crude oil futures for February ended lower by $0.56 at $78.40 a barrel.

read more
U.S. Dollar Drops After Powell's Speech

U.S. Dollar Drops After Powell's Speech

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as Federal Reserve Chair Jerome Powell hinted at a potential rate cut next month.
RTTNews | 4 시간 8 분 전
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

The Canadian market is up firmly in positive territory a little past noon on Friday, with stocks from across several sectors moving higher on strong buying support amid rising hopes of an interest rate cut by the Federal Reserve in September.
RTTNews | 9 시간 38 분 전
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.
RTTNews | 11 시간 47 분 전
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Canadian shares are likely to open on a somewhat mixed note Friday morning with investors awaiting Fed Chair Jerome Powell's speech at Jackson Hole. Lower commodity prices may weigh a bit early on in the session.
RTTNews | 14 시간 17 분 전
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Indian shares fell sharply on Friday after a Trump administration official called India the 'Maharaja' of tariffs and ramped up his criticism over the trade ahead of an expected tariff increase on August 27.
RTTNews | 16 시간 3 분 전
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

U.K. stocks are turning in a mixed performance in cautious trade on Friday, amid a lack of fresh triggers. Investors are awaiting Fed Chair Jerome Powell's speech later in the day at the Jackson Hole Symposium, for clues about U.S. central bank's interest rate move next month.
RTTNews | 16 시간 9 분 전
U.S. Dollar Rises Ahead Of Fed's Powell Speech

U.S. Dollar Rises Ahead Of Fed's Powell Speech

The U.S. dollar strengthened against other major currencies in the European session on Friday, as traders expect speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
RTTNews | 16 시간 13 분 전
CAC 40 Up Slightly In Lackluster Trade

CAC 40 Up Slightly In Lackluster Trade

French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
RTTNews | 16 시간 30 분 전