Singapore Stock Market May Extend Friday's Losses

RTTNews | 290 days ago
Singapore Stock Market May Extend Friday's Losses

(RTTNews) - The Singapore stock market has moved lower in two of three trading days since the end of the seven-day winning streak in which it had surged more than 140 points or 3.9 percent. The Straits Times Index now sits just above the 3,620-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets is soft, with profit taking likely on the docket after strong gains late last week. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets are tipped to split the difference.

The STI finished modestly lower on Friday following losses from the properties and trusts, gains from the banks and a mixed picture from the industrials.

For the day, the index lost 8.42 points or 0.23 percent to finish at 3,624.76 after trading between 3,613.76 and 3,636.21.

Among the actives, CapitaLand Integrated Commercial Trust retreated 2.78 percent, while CapitaLand Investment plunged 3.93 percent, City Developments tumbled 3.08 percent, Comfort DelGro advanced 0.67 percent, DBS Group jumped 1.30 percent, Emperador rallied 1.16 percent, Genting Singapore dropped 0.58 percent, Hongkong Land skidded 1.08 percent, Keppel DC REIT surrendered 3.54 percent, Keppel Ltd eased 0.15 percent, Mapletree Pan Asia Commercial Trust plummeted 3.97 percent, Mapletree Industrial Trust tanked 3.92 percent, Mapletree Logistics Trust stumbled 2.04 percent, Oversea-Chinese Banking Corporation collected 0.06 percent, SATS rose 0.27 percent, Singapore Technologies Engineering declined 1.47 percent, SingTel added 0.59 percent, Wilmar International slumped 1.26 percent, Yangzijiang Shipbuilding gained 0.37 percent and Seatrium Limited, SembCorp Industries, Yangzijiang Financial and Thai Beverage were unchanged.

The lead from Wall Street offers little guidance as the major averages opened lower on Friday and largely stayed that way, although the Dow broke barely into the green by the session's end.

The Dow added 38.16 points or 0.09 percent to finish at a record 42,063.36, while the NASDAQ slumped 65.68 points or 0.36 percent to close at 17,948.32 and the S7P 500 fell 11.09 points or 0.19 percent to end at 5,702.55.

For the week, the Dow jumped 1.6 percent, the NASDAQ climbed 1.5 percent and the S&P rallied 1.4 percent.

The early weakness on Wall Street partly reflected profit taking, with traders cashing in on Thursday's significant rally amid a positive reaction to the Federal Reserve's decision to slash interest rates by half of a percentage point.

Selling pressure waned over the course of the session, however, as traders seemed reluctant to make significant moves as they question what the next catalyst for the markets will be now that the Fed's first rate cut is in the rearview mirror.

Oil futures settled slightly lower on Friday due largely to profit taking by traders after solid gains last week. West Texas Intermediate Crude oil futures for October eased $0.03 at $71.92 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 | 26 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 | 46 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 38min 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 36min 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 40min 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 27min 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 28min 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 35min ago