Renewed Support Predicted For Singapore Stock Market

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(RTTNews) - The Singapore stock market on Friday finally halted the winning streak that had reached 14 sessions and 250 points or 6.2 percent. The Straits Times Index now rests just above the 4,260-point plateau although it's tipped to open in the green again on Monday.

The global forecast for the Asian markets is upbeat after the U.S. and the European Union ratified a trade agreement over the weekend. The European markets were mixed and the U.S. bourses were up and the Asian markets are expected to follow the latter lead.

The STI finished modestly lower on Friday following losses from the financial shares and mixed performances from the property stocks and industrial issues.

For the day, the index shed 11.99 points or 0.28 percent to finish at 4,261.06 after trading between 4,238.15 and 4,265.00.

Among the actives, CapitaLand Ascendas REIT both lost 0.36 percent, while CapitaLand Integrated Commercial Trust added 0.45 percent, CapitaLand Investment rallied 1.43 percent, City Developments soared 2.90 percent, Comfort DelGro surged 6.49 percent, DBS Group fell 0.30 percent, DFI Retail Group eased 0.28 percent, Genting Singapore retreated 1.32 percent, Keppel DC REIT spiked 2.65 percent, Oversea-Chinese Banking Corporation sank 0.52 percent, SATS slipped 0.29 percent, SembCorp Industries tanked 1.53 percent, Singapore Technologies Engineering rose 0.11 percent, SingTel slumped 1.21 percent, Thai Beverage skidded 1.04 percent, United Overseas Bank dropped 0.56 percent, UOL Group advanced 0.86 percent, Wilmar International declined 1.31 percent, Yangzijiang Financial stumbled 2.08 percent, Yangzijiang Shipbuilding gained 0.40 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Hongkong Land, Seatrium Limited and Frasers Centrepoint Trust were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Friday and tracked mostly higher throughout the session, sending the NASDAQ and the S&P 500 to fresh record closing highs.

The Dow jumped 208.02 points or 0.47 percent to finish at 44,901.92, while the NASDAQ added 50.32 points or 0.24 percent to close at 21,108.32 and the S&P 500 gained 25.29 points or 0.40 percent to end at 6,388.64.

The strength on Wall Street came on optimism that a number of trade deals will be worked out prior to President Donald Trump's August 1 deadline for the extension of his "reciprocal tariffs."

With only a few days left, several trading partners are trying to reach an agreement with the U.S. to avoid high tariff imposition on their exports to the U.S. from August 1; the U.S. and the EU have since reached an agreement over the weekend.

Crude oil fell on Friday on reports that the U.S. might allow partners of Venezuela's state-run PDVSA to resume operations, sparking concerns of over-supply. West Texas Intermediate crude for September delivery closed, down $0.88 or 1.33 percent to $65.15 per barrel.

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, but extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks partially offset by weakness in mining and technology stocks.

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Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, despite the broadly negative cues from Wall Street overnight, with the Australian and the Japanese markets hitting record all-time highs, as the U.S. and China agreed to extend their tariff truce for another 90 days. Optimism about the US Fed cutting interest rate at its next meeting is also aiding market sentiment.

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Sensex, Nifty Set For Muted Open On Mixed Global Cues

Indian shares are seen opening flat to slightly lower on Tuesday after rising sharply in the previous session as the announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

RTTNews | 1h 30minuter sedan

Japanese Market Sharply Higher; Up 2%

The Japanese stock market is trading sharply higher on Tuesday, extending the gains in the previous five sessions, despite the broadly negative cues from Wall Street overnight, with the Nikkei 225 surging over 2 percent near the 42,700 level to record all-time highs, with gains across all sectors led by index heavyweights, technology and financial stocks.

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Indonesia Stock Market May Be Stuck In Neutral On Tuesday

The Indonesia stock market has tracked higher in back-to-back sessions, improving more than 115 points or 15 percent along the way. The Jakarta Composite Index now sits just above the 7,600-point plateau although it's expected to open in the red on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 2h 32minuter sedan

Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 2h 47minuter sedan

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday after opening in the red, extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks and a mixed performance in mining and technology stocks.

RTTNews | 2h 54minuter sedan

China Stock Market May Hand Back Monday's Gains

The China stock market bounced higher again on Monday, one session after halting the four-day winning streak in which it had gathered almost 80 points or 2.4 percent. The Shanghai Composite Index now sits just beneath the 3,650-point plateau although it's likely to head south again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 3h 2minuter sedan

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