Singapore Stock Market Tipped To Open In The Green

(RTTNews) - The Singapore stock market on Monday wrote a finish to the three-day slide in which it had fallen almost 25 points or 0.7 percent. The Straits Times Index now sits just above the 3,060-point plateau and it's expected to extend its gains on Tuesday.

The global forecast for the Asian markets is upbeat on easing treasuries and ahead of key data later this week. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.

The STI finished slightly higher on Monday following mixed performances from the financial shares, property stocks and industrial issues.

For the day, the index perked 2.44 points or 0.08 percent to finish at 3,064.29 after trading between 3,041.67 and 3,070.19.

Among the actives, Ascendas REIT soared 2.79 percent, while CapitaLand Integrated Commercial Trust spiked 2.30 percent, CapitaLand Investment advanced 0.69 percent, City Developments perked 0.16 percent, Comfort DelGro accelerated 1.54 percent, DBS Group lost 0.54 percent, Genting Singapore shed 0.57 percent, Hongkong Land sank 0.63 percent, Keppel Corp dipped 0.32 percent, Keppel DC REIT stumbled 1.18 percent, Mapletree Pan Asia Commercial Trust skidded 0.76 percent, Mapletree Industrial Trust gained 0.47 percent, Mapletree Logistics Trust climbed 1.36 percent, Oversea-Chinese Banking Corporation fell 0.47 percent, SATS rose 0.41 percent, Seatrium Limited slumped 0.89 percent, SembCorp Industries gathered 0.22 percent, SingTel jumped 1.28 percent, Thai Beverage rallied 0.93 percent, Wilmar International added 0.57 percent, Yangzijiang Financial surged 6.56 percent, Yangzijiang Shipbuilding dropped 0.68 percent and Emperador, Frasers Logistics and Singapore Technologies Engineering were unchanged.

The lead from Wall Street is strong as the major averages opened higher on Monday and mostly improved as the day progressed, ending near session highs.

The Dow surged 511.37 points or 1.58 percent to finish at 32,928.96, while the NASDAQ rallied 146.47 points or 1.16 percent to end at 12,789.48 and the S&P 500 gained 49.45 points or 1.20 percent to close at 4,166.82.

The rebound on Wall Street reflected bargain hunting, with traders picking up stocks at reduced levels following last week's sell-off - which reflected ongoing concerns about the outlook for interest rates and concerns in the Middle East.

Meanwhile, traders continued to look ahead to the Federal Reserve's highly anticipated monetary policy announcement on Wednesday.

With the Fed widely expected to leave interest rates unchanged, traders will pay close attention to the accompanying statement for clues about the potential for further rate hikes.

Oil prices declined sharply Monday amid easing concerns about supply disruptions from the Middle East region. Investors are also looking ahead to the Federal Reserve's monetary policy announcement and the non-farm payroll data for October on Friday. West Texas Intermediate Crude oil futures for December slumped $3.23 or 3.8 percent at $82.31 a barrel.