Additional Support Anticipated For Singapore Stock Market

RTTNews | 1056 dagar sedan
Additional Support Anticipated For Singapore Stock Market

(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.

read more
European Shares Seen Tad Lower At Open

European Shares Seen Tad Lower At Open

European stocks may drift lower on Wednesday as market participants assess the outcome of U.S.-China trade negotiations.
RTTNews | 1h 54minuter sedan
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3h 5minuter sedan
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 4h 6minuter sedan
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 4h 31minuter sedan
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 5h 0minuter sedan
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 5h 31minuter sedan
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 5h 57minuter sedan
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 6h 1minuter sedan