Singapore Shares May Run Out Of Steam On Thursday

RTTNews | 926 days ago
Singapore Shares May Run Out Of Steam On Thursday

(RTTNews) - The Singapore stock market has ticked higher in consecutive trading days, collecting almost 10 points or 0.3 percent along the way. The Straits Times Index now rests just above the 3,265-point plateau although it may be stuck in neutral on Thursday.

The global forecast for the Asian markets is soft amid concerns over the health of the world economy and the outlook for interest rates. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The STI finished barely higher on Wednesday following mixed performances from the financial shares, property stocks and industrials.

For the day, the index perked 0.59 points or 0.02 percent to finish at 3,266.97 after trading between 3,256.24 and 3,270.33. Volume was 826.7 million shares worth 521.1 million Singapore dollars. There were 274 gainers and 215 decliners.

Among the actives, City Developments slumped 0.73 percent, while DBS Group and Venture Corporation both fell 0.29 percent, DFI Retail surged 3.78 percent, Emperador climbed 0.99 percent, Genting Singapore spiked 1.06 percent, Hongkong Land lost 0.44 percent, Keppel Corp sank 0.54 percent, Oversea-Chinese Banking Corporation collected 0.16 percent, SembCorp Industries gained 0.30 percent, Singapore Technologies Engineering skidded 0.59 percent, Thai Beverage advanced 0.73 percent, United Overseas Bank rose 0.10 percent, Wilmar International soared 1.44 percent, Yangzijiang Financial tumbled 1.43 percent, Yangzijiang Shipbuilding added 0.72 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Ascendas REIT, CapitaLand Integrated Commercial Trust, CapitaLand Investment, SATS, SingTel, Comfort DelGro and Frasers Logistics all were unchanged.

The lead from Wall Street is negative as the major averages shook off a slightly higher open on Wednesday, quickly heading south and finishing firmly in the red.

The Dow tumbled 365.85 points or 1.10 percent to finish at 32,875.71, while the NASDAQ slumped 139.94 points or 1.35 percent to close at 10,213.29 and the S&P 500 sank 46.03 points or 1.20 percent to end at 3,783.22.

The weakness that emerged on Wall Street partly reflected ongoing concerns about the economic outlook and the possibility of higher interest rates leading to a recession.

However, with many traders away from their desks amid the holidays, the sell-off on Wall Street may have been exaggerated by below average volume.

In economic news, the National Association of Realtors reported a continued slump in U.S. pending home sales in November.

Crude oil prices dropped Wednesday on concerns about the outlook for energy demand amid fears of a global recession and rising COVID-19 cases in China. West Texas Intermediate Crude oil futures for February ended down $0.57 or 0.7 percent at $78.86 a barrel.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 1 day ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 1 day ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 1 day ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 1 day ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 1 day ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1 day ago