Win Streak May Continue For Singapore Stock Market

(RTTNews) - The Singapore stock market has climbed higher in three straight sessions, rising almost 60 points or 1.5 percent along the way. The Straits Times Index now sits just beneath the 3,940-point plateau and it may extend its gains again on Friday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. 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 Thursday as the financial shares, property stocks and industrial issues were mostly in the green.

For the day, the index added 12.48 points or 0.32 percent to finish at 3,938.46 after trading between 3,919.48 and 3,938.19.

Among the actives, CapitaLand Ascendas REIT expanded 1.14 percent, while CapitaLand Integrated Commercial Trust added 0.47 percent, CapitaLand Investment strengthened 1.17 percent, City Developments eased 0.20 percent, Comfort DelGro improved 0.70 percent, DBS Group shed 0.40 percent, DFI Retail surged 2.61 percent, Hongkong Land accelerated 1.44 percent, Keppel Ltd fell 0.27 percent, Mapletree Pan Asia Commercial Trust soared 2.46 percent, Mapletree Industrial Trust climbed 1.01 percent, Mapletree Logistics Trust spiked 1.75 percent, Oversea-Chinese Banking Corporation perked 0.25 percent, SATS increased 0.66 percent, SembCorp Industries advanced 0.88 percent, Singapore Technologies Engineering slumped 1.01 percent, SingTel rose 0.26 percent, United Overseas Bank collected 0.45 percent, Wilmar International and Venture Corporation both gained 0.35 percent, Yangzijiang Financial rallied 1.41 percent, Yangzijiang Shipbuilding jumped 1.37 percent and Genting Singapore, Thai Beverage, Keppel DC REIT and Seatrium Limited were unchanged.

The lead from Wall Street is positive as the major averages opened with mild gains on Thursday but continued to pick up steam throughout the day, ending at session highs and just shy of all-time highs.

The Dow jumped 404.41 points or 0.94 percent to finish at 43,386.84, while the NASDAQ rallied 194.36 points or 0.97 percent to close at 20,167.91 and the S&P 500 gained 48.86 points or 0.80 percent to end at 6,141.02.

The markets continued to benefit from recent upward momentum, which has helped propel the major averages well off their April lows despite lingering uncertainty about tariffs.

The strength on Wall Street also came following the release of a slew of U.S. economic data, including a Labor Department report showing an unexpected decrease by initial jobless claims last week.

Also, revised data released by the Commerce Department showed the U.S. economy shrank by more than previously estimated in the first quarter of 2025, sparking optimism for future rate cuts sooner rather than later.

Crude oil extended its recovery on Thursday amid the ongoing Israel-Iran ceasefire and reports of an increase in fuel demand in the U.S. West Texas Intermediate crude for August delivery closed up by $0.32 to settle at $65.24 per barrel.

Closer to home, Singapore will provide Q1 data for unemployment later today, with forecasts pinning the jobless rate at 2.1 percent - up from 1.9 percent.