Singapore Stock Market Draws Weak Lead For Wednesday's Trade

RTTNews | 1002 days ago
Singapore Stock Market Draws Weak Lead For Wednesday's Trade

(RTTNews) - The Singapore stock market has closed lower in four straight sessions, sinking almost 50 points or 1.4 percent in that span. The Straits Times Index now rests just above the 3,105-point plateau and it's looking at another soft start again on Wednesday.

The global forecast for the Asian markets is mixed to lower, with a dose of volatility as bargain hunting may give the oversold bourses a lift - but the gains may evaporate as the day progresses. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The STI finished slightly lower on Tuesday following losses from the industrials and mixed performances from the financials and properties.

For the day, the index eased 2.47 points or 0.08 percent to finish at 3,105.00 after trading between 3,095.39 and 3,132.92. Volume was 1.4 billion shares worth 1.1 billion Singapore dollars. There were 314 decliners and 199 gainers.

Among the actives, Ascendas REIT gained 0.38 percent, while CapitaLand Integrated Commercial Trust sank 0.52 percent, CapitaLand Investment tumbled 1.47 percent, City Developments climbed 1.55 percent, Comfort DelGro strengthened 1.60 percent, DBS Group collected 0.36 percent, Genting Singapore slumped 0.63 percent, Hongkong Land declined 0.88 percent, Keppel Corp dropped 0.57 percent, Mapletree Industrial Trust advanced 0.85 percent, Mapletree Logistics Trust retreated 0.65 percent, Oversea-Chinese Banking Corporation perked 0.09 percent, SATS plunged 2.01 percent, SembCorp Industries tanked 1.62 percent, Singapore Technologies Engineering lost 0.30 percent, SingTel added 0.40 percent, Thai Beverage jumped 1.77 percent, United Overseas Bank eased 0.04 percent, Wilmar International rose 0.27 percent, Yangzijiang Shipbuilding plummeted 3.31 percent and Emperador, Yangzijiang Financial, Mapletree Pan Asia Commercial Trust and Frasers Logistics were unchanged.

The lead from Wall Street ends up weak as the major averages saw considerable volatility on Tuesday, opening lower before rallying and then handing back the gains to finish mixed.

The Dow rose 36.31 points or 0.12 percent to finish at 29,239.19, while the NASDAQ tumbled 115.91 points or 1.10 percent to end at 10,426.19 and the S&P 500 sank 23.55 points or 0.65 percent to close at 3,588.84.

The early weakness on Wall Street was due to concerns about rising interest rates and the impact of high borrowing costs on corporate earnings and economic growth. A downward revision in the global economic growth forecast by the International Monetary Fund also weighed.

The markets rebounded when treasury yields ticked lower, but stocks faltered past mid-afternoon after the Bank of England said that its market intervention will be over soon.

Oil futures fell on Tuesday, extending losses from the previous session on concerns about outlook for energy demand amid the rising possibility of a global recession. A surge in COVID-19 cases in China and fears of further monetary policy tightening also weighed. West Texas Intermediate Crude oil futures for November sank $1.78 or 2 percent at $89.35 a barrel.

read more
European Shares Set To Open Higher Despite Rising Trade Tensions

European Shares Set To Open Higher Despite Rising Trade Tensions

European stocks may open mostly higher on Thursday despite U.S. President Donald Trump escalating his tariff campaign, sending letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 37 minutes ago
European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial output from Italy are the top economic news due on Thursday. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for June. Flash inflation showed that consumer price inflation eased to 2.0 percent from 2.1 percent in May.
RTTNews | 57 minutes ago
Sensex, Nifty Subdued On Trade Jitters

Sensex, Nifty Subdued On Trade Jitters

Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 1h 49min ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks.
RTTNews | 2h 46min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders are optimistic about an end to the tariff uncertainty after US 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.
RTTNews | 2h 51min ago
Sensex, Nifty Set For Muted Open

Sensex, Nifty Set For Muted Open

Indian shares look set to open on a flat note Thursday as investors watch the latest developments on the trade front, react to the latest FOMC meeting minutes and look for direction from Q1 business updates from prominent companies.
RTTNews | 3h 38min ago
Indonesia Stock Market May Extend Winning Streak

Indonesia Stock Market May Extend Winning Streak

The Indonesia stock market has moved higher in three straight sessions, gathering almost 80 points or 1.2 percent along the way. The Jakarta Composite Index now sits just above the 6,940-point plateau and it may add to its winnings again on Thursday.
RTTNews | 4h 38min ago
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, reversing some of the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling to near the 39,600 level, with weakness in exporter stocks and a mixed performance in most other sectors.
RTTNews | 4h 46min ago