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
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to shrink 0.1 percent on a monthly basis in April, reversing a 0.2 percent rise in March.
RTTNews | 1小时51分钟前
Sensex, Nifty Subdued In Cautious Trade

Sensex, Nifty Subdued In Cautious Trade

Indian shares were subdued on Thursday as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done" and that he would set unilateral tariff rates for trading partners within two weeks.
RTTNews | 2小时8分钟前
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian market is doubling its early gains in mid-market moves on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners.
RTTNews | 2小时32分钟前
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | 3小时23分钟前