Rebound Anticipated For Singapore Stock Market

RTTNews | 963 days ago
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
Sensex, Nifty Slightly Higher In Early Trade

Sensex, Nifty Slightly Higher In Early Trade

Indian shares were slightly higher on Tuesday, extending the previous session's strong gains after the Modi government, in a bold Independence Day declaration, revealed plans for the largest tax overhaul since 2017.
RTTNews | 19 minutes ago
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,900 level, with weakness in mining and energy stocks partially offset by gains in financial stocks.
RTTNews | 1h 28min ago
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid optimism of a truce in the conflict between Russia and Ukraine with US President Donald Trump planning a summit meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy very soon. Asian markets closed mostly higher on Monday.
RTTNews | 1h 38min ago
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday after opening in the green, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling below the 43,500 level, with weakness in index heavyweights and financial stocks partially offset by gains in automakers and exporters.
RTTNews | 2h 34min ago
Thai Shares May Take Further Damage On Tuesday

Thai Shares May Take Further Damage On Tuesday

The Thai stock market has finished lower in three straight sessions, slipping more than 35 points or 3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,240-point plateau and it may extend its losses on Tuesday.
RTTNews | 2h 54min ago
Little Movement Seen For Indonesia Stock Market

Little Movement Seen For Indonesia Stock Market

Ahead of Monday's holiday for Independence Day, the Indonesia stock market had snapped the five-day winning streak in which it had surged more than 440 points or 5.8 percent. The Jakarta Composite Index now sits just beneath the 7,900-point plateau and it's likely to remain stuck in neutral again on Tuesday.
RTTNews | 3h 24min ago
Soft Start Expected For Hong Kong Stock Market

Soft Start Expected For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, slumping more than 430 points or 1.5 percent along the way. The Hang Seng Index now rests just above the 25,175-point plateau and it may continue to sputter on Tuesday.
RTTNews | 3h 39min ago