Singapore Stock Market May Take Further Damage On Wednesday

RTTNews | 919 gün önce
Singapore Stock Market May Take Further Damage On Wednesday

(RTTNews) - The Singapore stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had collected almost 10 points or 0.3 percent. The Straits Times Index now rests just above the 3,245-point plateau and the losses may accelerate on Wednesday.

The global forecast for the Asian markets is mixed to lower thanks to rising recession fears. The European markets were up and the U.S. bourses were down and the Asian markets figure to split the difference.

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

For the day, the index dipped 5.52 points or 0.17 percent to finish at 3,245.80 after trading between 3,212.63 and 3,252.12.

Among the actives, CapitaLand Integrated Commercial Trust fell 0.49 percent, while CapitaLand Investment added 0.81 percent, City Developments tumbled 0.85 percent, DBS Group eased 0.12 percent, Emperador climbed 0.98 percent, Genting Singapore lost 0.52 percent, Hongkong Land advanced 0.87 percent, Keppel Corp rose 0.14 percent, Mapletree Industrial Trust spiked 1.80 percent, Mapletree Logistics Trust dropped 0.63 percent, Oversea-Chinese Banking Corporation collected 0.49 percent, SATS gained 0.70 percent, SembCorp Industries jumped 1.78 percent, Singapore Technologies Engineering improved 0.60 percent, SingTel declined 0.78 percent, Thai Beverage retreated 0.73 percent, Wilmar International plunged 1.44 percent, Yangzijiang Shipbuilding plummeted 5.88 percent and Yangzijiang Financial, Ascendas REIT, Mapletree Pan Asia Commercial Trust, United Overseas Bank, Comfort DelGro and Frasers Logistics were unchanged.

The lead from Wall Street is soft as the major averages shook off early support on Tuesday, quickly turning lower and spending the rest of the day in the red.

The Dow shed 1088 points or 0.03 percent to finish at 33,136.37, while the NASDAQ lost 79.50 points or 0.76 percent to end at 10,386.98 and the S&P 500 fell 15.36 points or 0.40 percent to close at 3,824.14.

The early strength on Wall Street came as traders looked to get the New Year started on a positive note following a dismal 2022. For last year, the NASDAQ plummeted 33.1 percent, the S&P 500 lost 19.4 percent and the Dow sank 8.8 percent.

A report from the International Monetary Fund says about one third of the world economy will likely go into a recession this year. A rebound from treasuries also added to the negative sentiment.

A report released by the Commerce Department unexpectedly showed a modest increase in U.S. construction spending in the month of November.

Crude oil prices fell on Tuesday amid concerns about the outlook for energy demand due to rising fears of a recession. West Texas Intermediate Crude oil futures for February ended down $3.33 or 4.2 percent at $76.93 a barrel, a two-week low.

read more
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 54 dakika önce
UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 1s 24 dakika önce
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
RTTNews | 1s 32 dakika önce
DAX Down Sharply As Stocks Tumble On Tariff Concerns

DAX Down Sharply As Stocks Tumble On Tariff Concerns

German stocks are down sharply on Friday as trade war concerns hurt sentiment following U.S. President Donald Trump imposing a 35% tariff on Canadian imports, effective August 1.
RTTNews | 1s 54 dakika önce
Walmart Recalls 850K Ozark Trail Water Bottles

Walmart Recalls 850K Ozark Trail Water Bottles

Retain giant Walmart Inc. is recalling about 850,000 Ozark Trail 64 oz Stainless Steel Insulated Water Bottles as the lid can suddenly pop off with force, causing injury, according to the U.S. Consumer Product Safety Commission. The recall includes Water Bottles sold under model number 83-662. These silver stainless-steel bottles feature a black one-piece screw-on lid.
RTTNews | 2s 7 dakika önce
European Shares Decline As Tariff Worries Return To Haunt

European Shares Decline As Tariff Worries Return To Haunt

European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1, in a dramatic escalation of a trade war with the United States' closest ally over the country's alleged role in fentanyl flows.
RTTNews | 3s 14 dakika önce