Singapore Bourse Expected To Halt Losing Streak On Wednesday

(RTTNews) - The Singapore stock market has moved lower in four straight sessions, slumping more than 25 points or 0.7 percent in that span. The Straits Times Index now sits just above the 3,805-point plateau although it's due for support on Wednesday.

The global forecast for the Asian markets is positive on optimism ahead of earnings season. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The STI finished slightly lower again on Tuesday following weakness from the plantations and mixed performances from the financial shares, property stocks and industrial issues.

For the day, the index slipped 6.62 points or 0.17 percent to finish at 3,805.18 after trading between 3,800.11 and 3,838.14.

Among the actives, CapitaLand Ascendas REIT stumbled 1.12 percent, while CapitaLand Integrated Commercial Trust lost 0.46 percent, CapitaLand Investment slid 0.37 percent, City Developments dropped 0.61 percent, Comfort DelGro gained 0.65 percent, DBS Group sank 0.52 percent, DFI Retail Group advanced 0.82 percent, Genting Singapore added 0.68 percent, Keppel DC REIT shed 0.48 percent, Keppel Ltd rose 0.46 percent, Mapletree Pan Asia Commercial Trust climbed 0.83 percent, Mapletree Logistics Trust declined 0.88 percent, Oversea-Chinese Banking Corporation collected 0.95 percent, SATS tumbled 1.07 percent, Seatrium Limited retreated 1.03 percent, SembCorp Industries rallied 2.64 percent, Singapore Technologies Engineering fell 0.41 percent, SingTel slumped 0.79 percent, Thai Beverage tanked 1.94 percent, Wilmar International plummeted 3.82 percent, Yangzijiang Financial plunged 2.13 percent, Yangzijiang Shipbuilding surrendered 1.33 percent and Hongkong Land and Mapletree Industrial Trust both were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Tuesday but trended steadily upward throughout the session to finish with solid gains.

The Dow rallied 300.03 points or 0.75 percent to finish at 40,527.62, while the NASDAQ advanced 95.19 points or 0.55 percent to close at 17,461.32 and the S&P 500 gained 32.08 points or 0.58 percent to end at 5,560.83.

The strength that emerged on Wall Street came amid positive developments on the trade front, with Commerce Secretary Howard Lutnick telling CNBC the Trump administration had reached its first trade deal.

Earlier in the day, traders seemed reluctant to make significant moves ahead of the release of key earnings and economic news in the coming days.

Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Visa (V), Eli Lilly (LLY), Chevron (CVX) and Exxon Mobil (XOM) are all due to report earnings this week.

Crude oil futures moved sharply on Tuesday amid ongoing concerns that a weakening U.S. economy and the U.S.-led trade war with partners will hurt energy demand. West Texas Intermediate crude for June delivery plunged $1.63 or 2.6 percent to $60.42 a barrel.