Additional Support Anticipated For Singapore Stock Market

RTTNews | 1056 dagar sedan

(RTTNews) - The Singapore stock market rebounded again on Wednesday, one session after halting the two-day winning streak in which it had collected more than 30 points or 1 percent. The Straits Times Index now rests just above the 3,170-point plateau and it's predicted to open in the green again on Thursday.

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

The STI finished sharply higher on Wednesday following gains from the financial shares and property stocks, while the industrials were a mixed bag.

For the day, the index spiked 52.50 points or 1.68 percent to finish at the daily high of 3,170.29 after trading as low as 3,134.62. Volume was 982 million shares worth 1.05 billion Singapore dollars. There were 288 gainers and 183 decliners.

Among the actives, United Overseas Bank skyrocketed 3.44 percent, while DBS Group surged 3.01 percent, Keppel Corp soared 2.49 percent, Singapore Technologies Engineering spiked 2.25 percent, Oversea-Chinese Banking Corporation accelerated 2.03 percent, Yangzijiang Shipbuilding rallied 1.69 percent, City Developments jumped 1.44 percent, Yangzijiang Financial strengthened 1.25 percent, Mapletree Logistics Trust climbed 1.18 percent, CapitaLand Investment advanced 1.06 percent, SATS improved 1.00 percent, Hongkong Land increased 0.81 percent, Thai Beverage sank 0.78 percent, SingTel added 0.75 percent, Comfort DelGro gained 0.70 percent, Mapletree Commercial Trust rose 0.56 percent, Singapore Exchange collected 0.51 percent, Ascendas REIT perked 0.35 percent, SembCorp Industries fell 0.33 percent, Wilmar International was up 0.25 percent and Genting Singapore, CapitaLand Integrated Commercial Trust and Mapletree Industrial Trust were unchanged.

The lead from Wall Street is positive as the major averages opened mixed and remained that way through much of the session before a late rally pushed them all into the green by the close.

The Dow added 47.79 points or 0.15 percent to finish at 31,874.84, while the NASDAQ surged 184.50 points or 1.58 percent to end at 11,897.65 and the S&P 500 rose 23.21 points or 0.59 percent to close at 3,959.90.

The jump by the NASDAQ reflected strength among tech stocks, which came amid a positive reaction to earnings news from Netflix (NFLX). Semiconductor stocks also turned in a strong performance on the day, with the Philadelphia Semiconductor Index spiking by 2.5 percent.

On the other hand, gold stocks came under pressure over the course of the session, dragging the NYSE Arca Gold Bugs Index down by 3.1 percent. The weakness among gold stocks came as the price of gold for August delivery fell $10.50 to $1,700.20 an ounce.

In U.S. economic news, the National Association of Realtors reported that existing home sales tumbled by much more than expected in June.

Crude oil futures settled lower Wednesday amid concerns about the outlook for gasoline demand during the summer driving season. West Texas Intermediate Crude oil futures for August ended lower by $1.96 or 1.9 percent at $102.26 a barrel on the expiration day.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

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Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

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Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

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Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 2h 32minuter sedan

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 2h 47minuter sedan

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

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U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 4h 31minuter sedan

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

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EURUSD	1.14219	GBPUSD	1.34987	AUDUSD	0.65209
USDJPY	144.899	USDCAD	1.36752	USDCHF	0.82271

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Additional Support Anticipated For Singapore Stock Market