Singapore Stock Market Expected To End Losing Streak

RTTNews | 847 дней спустя
Singapore Stock Market Expected To End Losing Streak

(RTTNews) - The Singapore stock market has closed lower in three straight sessions, sinking almost 80 points or 2.4 percent along the way. The Straits Times Index now rests just above the 3,280-point plateau although it figures to find traction on Thursday.

The global forecast for the Asian markets is upbeat on easing concerns over the outlook for interest rates. The European and U.S. markets were up and the Asian markets figure to follow that lead.

The STI finished sharply lower on Wednesday following losses from the financial shares, property stocks and industrials. For the day, the index stumbled 37.38 points or 1.13 percent to finish at 3,280.82 after trading between 3,271.78 and 3,312.84. Among the actives, Ascendas REIT shed 1.08 percent, while CapitaLand Integrated Commercial Trust tanked 2.04 percent, CapitaLand Investment retreated 1.56 percent, City Developments plummeted 3.20 percent, Comfort DelGro slid 0.84 percent, DBS Group lost 1.03 percent, Genting Singapore fell 0.98 percent, Hongkong Land declined 1.67 percent, Keppel Corp rose 0.14 percent, Mapletree Pan Asia Commercial Trust plunged 2.89 percent, Mapletree Industrial Trust slid 0.87 percent, Mapletree Logistics Trust dropped 1.20 percent, Oversea-Chinese Banking Corporation stumbled 1.54 percent, SATS and Venture Corporation both dipped 0.70 percent, SembCorp Industries was down 0.54 percent, Singapore Technologies Engineering sank 1.10 percent, SingTel tumbled 2.00 percent, United Overseas Bank skidded 1.26 percent, Wilmar International eased 0.25 percent, Yangzijiang Financial slumped 1.39 percent, Yangzijiang Shipbuilding rallied 1.57 percent and Emperador and Thai Beverage were unchanged.

The lead from Wall Street ends up positive as the major averages opened sharply lower on Wednesday but improved steadily throughout the session and finished in the green.

The Dow added 38.78 points or 0.11 percent to finish at 34,128.05, while the NASDAQ jumped 110.45 points or 0.92 percent to end at 12,070.59 and the S&P 500 rose 11.47 points or 0.28 percent to close at 4,147.60.

The early weakness on Wall Street reflected ongoing concerns about the outlook for interest rates following the release of upbeat retail sales data.

The sharp increase in retail sales has led to concerns the Federal Reserve will be encouraged to continue aggressively raising interest rates in an effort to combat inflation.

The concerns about rates may have been partly offset by a separate report from the Federal Reserve showing U.S. industrial production was unexpectedly unchanged in January.

Crude oil prices came off daily lows but still moved solidly lower on Wednesday, hurt by a stronger U.S. dollar and a spike in U.S. crude inventories last week. West Texas Intermediate was down $0.47 or 0.6 percent to $78.59 per barrel.

read more
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 16 минут назад
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 1ч 59мин назад
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 4ч 47мин назад
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 4ч 50мин назад
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 5ч 33мин назад
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 6ч 0мин назад
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 6ч 19мин назад