Singapore Bourse May Extend Losing Streak

RTTNews | 568天前
Singapore Bourse May Extend Losing Streak

(RTTNews) - The Singapore stock market has moved lower in three straight sessions, sinking more than 35 points or 1.2 percent along the way. The Straits Times Index now sits just beneath the 3,100-point plateau and it may take further damage again on Wednesday.

The global forecast for the Asian markets suggests consolidation on profit taking and weak retail earnings. The European and U.S. markets were down and the Asian markets are tipped to open in similar fashion.

The STI finished modestly lower on Tuesday following losses from the industrials and a mixed performance from the financial shares.

For the day, the index shed 15.24 points or 0.49 percent to finish at 3,096.34 after trading between 3,092.08 and 3,114.54.

Among the actives, Ascendas REIT rallied 1.44 percent, while CapitaLand Integrated Commercial Trust increased 0.53 percent, CapitaLand Investment collected 0.33 percent, Comfort DelGro added 0.73 percent, DBS Group tumbled 1.91 percent, Genting Singapore gathered 0.54 percent, Hongkong Land and Frasers Logistics advanced 0.91 percent, Keppel Corp fell 0.16 percent, Mapletree Pan Asia Commercial Trust gained 0.72 percent, Mapletree Industrial Trust and Jardine Cycle both improved 0.88 percent, Mapletree Logistics Trust rose 0.63 percent, Oversea-Chinese Banking Corporation retreated 0.93 percent, SATS accelerated 0.73 percent, SembCorp Industries sank 0.40 percent, Singapore Technologies Engineering was up 0.26 percent, SingTel plunged 2.60 percent, Wilmar International climbed 1.10 percent, Yangzijiang Financial jumped 1.56 percent, Yangzijiang Shipbuilding declined 0.68 percent and City Developments, Emperador, Seatrium Limited, Thai Beverage and Keppel DC REIT were unchanged.

The lead from Wall Street is soft as the major averages opened lower on Tuesday and remained in the red throughout the session.

The Dow dropped 62.75 points or 0.18 percent to finish at 35,088.29, while the NASDAQ tumbled 84.55 points or 0.59 percent to end at 14,199.98 and the S&P 500 fell 9.19 points or 0.20 percent to close at 4,538.19.

The pullback on Wall Street came as some traders looked to cash in on the recent strength in the markets, which has lifted the major averages to their best levels in over three months.

A negative reaction to some of the latest earnings news from major retailers also weighed on Wall Street, with disappointing results from the likes of American Eagle Outfitters (AEO), Kohl's (KSS), Lowe's (LOW) and Best Buy (BBY).

The markets did not show much reaction to the minutes of the Federal Reserve's latest monetary policy meeting, which said Fed officials expect to keep interest rates at a restrictive level for "some time."

Crude oil futures settled slightly lower Tuesday ahead of this weekend's OPEC meeting as investors wait to see if more production cuts may be in store. West Texas Intermediate Crude oil futures for January eased $0.06 at $77.77 a barrel.

Closer to home, Singapore will release Q3 numbers for gross domestic product later this morning. GDP is expected to rise 1.0 percent on quarter and 0.7 percent on year after adding 0.1 percent on quarter and 0.5 percent on year in the three months prior.

read more
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 12分钟前
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 38分钟前
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 57分钟前
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 1小时8分钟前
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | 2小时8分钟前
CAC 40 Down 0.7% As Tariff Concerns Weigh

CAC 40 Down 0.7% As Tariff Concerns Weigh

French stocks are down in negative territory on Thursday as renewed concerns about tariffs and Middle East tensions weigh on sentiment.
RTTNews | 2小时17分钟前