Singapore Bourse May Halt Winning Streak On Wednesday

RTTNews | 778 days ago
Singapore Bourse May Halt Winning Streak On Wednesday

(RTTNews) - The Singapore stock market has tracked higher in four straight sessions, collecting more than 45 points or 1.5 percent along the way. The Straits Times Index now sits just beneath the 3,220-point plateau although it may spin its wheels on Wednesday.

The global forecast for the Asian markets remains soft on increasing concerns over the Republican-manufactured U.S. debt ceiling confrontation. The European and U.S. markets were down and the Asian bourses figure to follow that lead.

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

For the day, the index rose 6.99 points or 0.22 percent to finish at 3,218.08 after trading between 3,200.73 and 3,232.29.

Among the actives, Ascendas REIT gained 0.42 percent, while CapitaLand Integrated Commercial Trust added 0.50 percent, CapitaLand Investment rose 0.29 percent, Comfort DelGro climbed 0.90 percent, DBS Group jumped 1.88 percent, Emperador tumbled 0.97 percent, Hongkong Land retreated 0.90 percent, Keppel Corp eased 0.15 percent, Mapletree Pan Asia Commercial Trust and UOL Group both improved 0.60 percent, Mapletree Industrial Trust declined 0.87 percent, Oversea-Chinese Banking Corporation dipped 0.33 percent, SATS lost 0.35 percent, SembCorp Industries shed 0.41 percent, Singapore Technologies Engineering was down 0.27 percent, SingTel fell 0.39 percent, United Overseas Bank collected 0.54 percent, Wilmar International slumped 0.50 percent, Yangzijiang Shipbuilding advanced 0.80 percent and Mapletree Logistics Trust, Genting Singapore, Yangzijiang Financial, City Developments, Thai Beverage and Frasers Logistics were unchanged.

The lead from Wall Street suggests consolidation as the major averages opened lower on Tuesday and spent much of the day hugging the line before slumping in the afternoon.

The Dow tumbled 231.07 points or 0.69 percent to finish at 33,055.51, while the NASDAQ sank 160.53 points or 1.26 percent to end at 12,560.25 and the S&P 500 dropped 47.05 points or 1.12 percent to close at 4,145.58.

The markets continue to be weighed by the debt ceiling negotiations. U.S. President Joe Biden and House Speaker Kevin McCarthy said they held productive talks but there was no agreement on how to raise the government's $31.4 trillion debt ceiling.

In economic news, the S&P Global US Composite PMI accelerated to its fastest pace in more than a year, while the Commerce Department said new home sales surprised much higher to the upside.

Crude oil futures advanced on speculation that OPEC might consider another production cut next month, and on a warning from Saudi Arabia's energy minister that oil prices will stop declining. West Texas Intermediate Crude oil futures for July rose $0.86 or 1.2 percent at $72.91 a barrel.

read more
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 1h 56min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 3h 9min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 3h 11min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 4h 20min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 4h 55min ago
DAX Modestly Up After Hitting Fresh Record High

DAX Modestly Up After Hitting Fresh Record High

German stocks are up in positive territory on Thursday, extending gains from the previous three sessions, as investors continue to focus on US-EU trade negotiations. Data showing a drop in Germany's consumer price inflation in the month of June is aiding sentiment.
RTTNews | 5h 15min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 10min ago