Singapore Stock Market May Open To The Upside

RTTNews | 21 days ago

(RTTNews) - The Singapore stock market on Monday ended the two-day slide in which it had slipped almost 15 points or 0.5 percent. The Straits Times Index now rests just above the 3,280-point plateau and it may see additional support on Tuesday.

The global forecast for the Asian markets is flat to slightly higher ahead of Wednesday's FOMC policy announcement. The European markets were soft and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The STI finished barely higher on Monday following mixed performances from the financials, trusts, properties and industrials.

For the day, the index picked up 1.95 points or 0.06 percent to finish at the daily high of 3,282.05 after moving as low as 3,264.11.

Among the actives, CapitaLand Investment fell 0.38 percent, while City Developments climbed 0.66 percent, Comfort DelGro spiked 1.35 percent, DBS Group rallied 1.05 percent, Emperador retreated 2.27 percent, Genting Singapore added 0.54 percent, Hongkong Land slumped 0.96 percent, Keppel DC REIT advanced 0.59 percent, Mapletree Pan Asia Commercial Trust jumped 0.79 percent, Mapletree Industrial Trust dropped 0.88 percent, Mapletree Logistics Trust sank 0.74 percent, Oversea-Chinese Banking Corporation lost 0.42 percent, Seatrium Limited surged 4.49 percent, Singapore Technologies Engineering rose 025 percent, SingTel tumbled 2.49 percent, Wilmar International shed 0.60 percent, Yangzijiang Shipbuilding soared 2.69 percent and SATS, Thai Beverage, SembCorp Industries, CapitaLand Integrated Commercial Trust, Keppel Ltd, DFI Retail and Yangzijiang Financial were unchanged.

The lead from Wall Street suggests mild upside as the major averages opened higher on Monday and stayed mostly in the green, ending slightly higher.

The Dow jumped 146.43 points or 0.38 percent to finish at 38,386.09, while the NASDAQ advanced 55.18 points or 0.35 percent to close at 15,983.08 and the S&P 500 added 16.21 points or 0.32 percent to end at 5,116.17.

The modestly higher close on Wall Street came as stocks continue to benefit from the upward momentum seen last week, which came amid a positive reaction to upbeat tech earnings.

Overall trading activity was somewhat subdued, however, as traders look ahead to the Federal Reserve's monetary policy announcement on Wednesday.

The Fed is widely expected to leave interest rates unchanged, but the accompanying statement and Fed Chair Jerome Powell's post-meeting press conference may shed additional light on the outlook for rates.

Oil futures settled lower on Monday amid worries about growth and outlook for oil demand and the rising possibility of the Federal Reserve delaying interest rate cuts. West Texas Intermediate Crude oil futures for June ended down by $1.22 or 1.45 percent at $82.63 a barrel.

Japanese Market Slightly Higher

Adding the gains in the previous session, the Japanese stock market is slightly higher on Tuesday, with the Nikkei 225 moving above the 39,100 level, following the mixed cues from Wall Street overnight, with gains in some Index heavyweights and technology stocks.

RTTNews | 4h 59min ago

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening flat to higher on Tuesday despite mixed global cues, elevated geopolitical tensions and lingering uncertainty over the timing and pace of Fed rate cuts.

RTTNews | 5h 1min ago

Thai Stock Market Called Higher On Tuesday

The Thai stock market on Monday ended the two-day winning streak in which it had picked up more than a dozen points or 0.9 percent. The Stock Exchange of Thailand now sits just beneath the 1,380-point plateau although it's expected to open to the upside on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | 5h 24min ago

RBA Minutes: Inflation Slowing Less Than Expected

Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.

RTTNews | 5h 34min ago

Indonesia Shares May Reverse Monday's Losses

The Indonesia stock market on Monday snapped the three-day winning streak in which it had jumped more than 230 points or 3.3 percent. The Jakarta Composite Index now sits just beneath the 7,270-point plateau although it's expected to rebound on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside. The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies. For the day, the index sank 50.55 points or 0.69 percent to finish at 7,266.69 after trading between 7,243.01 and 7,374.55. Among the actives, Bank CIMB Niaga sank 0.80 percent, while Bank Mandiri plunged 3.80 percent, Bank Danamon Indonesia fell 0.37 percent, Bank Negara Indonesia plummeted 3.77 percent, Bank Central Asia tanked 2.82 percent, Bank Rakyat Indonesia stumbled 2.03 percent, Indosat Ooredoo Hutchison surrendered 3.48 percent, Indocement rose 0.36 percent, Semen Indonesia slumped 1.72 percent, Indofood Sukses Makmur climbed 1.22 percent, United Tractors accelerated 2.47 percent, Astra International retreated 1.25 percent, Energi Mega Persada soared 2.07 percent, Astra Agro Lestari strengthened 1.64 percent, Aneka Tambang rallied 2.16 percent, Vale Indonesia skyrocketed 7.52 percent, Timah lost 0.51 percent, Bumi Resources spiked 2.17 percent and Perusahaan Perseroan and Jasa Marga were unchanged.

RTTNews | 5h 54min ago

Australian Market Modestly Lower

The Australian stock market is modestly lower on Tuesday after opening in the green, giving up some of the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 7,900 level, with weakness in iron ore miners and energy stocks are partially offset by gains in technology stocks.

RTTNews | 5h 58min ago

Higher Open Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in three straight sessions, climbing almost 560 points or 3 percent along the way. The Hang Seng Index now sits just above the 19,630-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | 6h 9min ago

China Bourse May Challenge Resistance At 3,200 Points

The China stock market has tracked higher in three straight sessions, gathering more than 50 points or 1.8 percent in that span. The Shanghai Composite Index now sits just above the 3,170-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside. The SCI finished modestly higher again on Monday following gains from the resource and energy companies, while the financials were soft and the properties were mixed. For the day, the index added 17.12 points or 0.54 percent to finish at 3,171.15 after trading between 3,155.99 and 3,174.27. The Shenzhen Composite Index gained 8.39 points or 0.47 percent to end at 1,793.98. Among the actives, Industrial and Commercial Bank of China dipped 0.18 percent, while Bank of China shed 0.45 percent, China Construction Bank lost 0.42 percent, China Merchants Bank retreated 1.28 percent, Bank of Communications sank 0.57 percent, China Life Insurance advanced 1.00 percent, Jiangxi Copper skyrocketed 5.87 percent, Aluminum Corp of China (Chalco) surged 4.76 percent, Yankuang Energy soared 3.54 percent, PetroChina rallied 2.92 percent, China Petroleum and Chemical (Sinopec) climbed 1.10 percent, Huaneng Power jumped 1.70 percent, China Shenhua Energy accelerated 2.61 percent, Gemdale spiked 5.25 percent, Poly Developments slumped 1.07 percent and China Vanke was up 2.00 percent.

RTTNews | 6h 24min ago

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