Singapore Stock Market May Extend Tuesday's Gains

RTTNews | 1114 days ago
Singapore Stock Market May Extend Tuesday's Gains

(RTTNews) - The Singapore stock market has moved higher in two of three trading days since the end of the seven-day losing streak in which it had slumped more than 135 points or 4.4 percent. The Straits Times Index now rests just beneath the 3,120-point plateau and it's looking at another green light for Wednesday's trade.

The global forecast for the Asian markets is upbeat, with oil, telecom and technology stocks expected to lead the way. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The STI finished modestly higher on Tuesday following gains from the financial shares, property stocks and industrial issues.

For the day, the index improved 21.08 points or 0.68 percent to finish at 3,117.48 after trading between 3,102.84 and 3,127.26. Volume was 1.27 billion shares worth 961.7 million Singapore dollars. There were 334 gainers and 167 decliners.

Among the actives, CapitaLand Investment fell 0.26 percent, while City Developments improved 0.74 percent, DBS Group jumped 1.14 percent, Genting Singapore increased 0.68 percent, Hongkong Land accelerated 1.24 percent, Keppel Corp gained 0.30 percent, Mapletree Commercial Trust added 0.56 percent, Mapletree Industrial Trust advanced 0.80 percent, Oversea-Chinese Banking Corporation rallied 0.88 percent, SATS climbed 1.01 percent, SembCorp Industries skyrocketed 4.68 percent, Singapore Exchange shed 0.32 percent, Singapore Technologies Engineering dipped 0.25 percent, SingTel spiked 2.00 percent, Thai Beverage sank 0.76 percent, United Overseas Bank collected 0.04 percent, Wilmar International rose 0.25 percent, Yangzijiang Financial soared 2.20 percent, Yangzijiang Shipbuilding surged 2.59 percent and Mapletree Logistics Trust, CapitaLand Integrated Commercial Trust, Ascendas REIT, Comfort DelGro and DFI Retail were unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher on Tuesday and remained solidly in the green throughout the day, closing near session highs.

The Dow surged 641.47 points or 2.15 percent to finish at 30,530.25, while the NASDAQ spiked 270.95 points or 2.51 percent to end at 11,069.30 and the S&P 500 jumped 89.95 points or 2.45 percent to close at 3,764.79.

The rally on Wall Street came as traders picked up stocks at reduced levels following recent weakness in the markets. Bargain hunting also contributed to strength in the overseas markets that carried over onto Wall Street early in the day.

In economic news, the National Association of Realtors noted another steep drop in U.S. existing home sales in May.

Crude oil prices bounced higher again Tuesday, recovering from the selloff in the previous session that was fueled by recession concerns. West Texas intermediate for August delivery jumped $1.53 or 1.4 percent to $109.52 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 | 38 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 | 59 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 50min 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 48min 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 53min 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 39min 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 40min 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 47min ago