Singapore stock market expected higher opening


(RTTNews) – The Singapore stock market has alternated positive and negative finishes over the past four trading days since the end of the two-day winning streak in which it added more than a dozen points or 0.4%. The Straits Times Index now sits just above the 3,075 point plateau and is expected to open again in the green on Friday.

Global forecasts for Asian markets are optimistic, with strong support from crude oil prices. European markets were mixed and US stock markets were firmly up and Asian markets are also expected to open in the green.

The STI ended slightly higher on Thursday following gains in financial stocks, real estate stocks and industrial issues.

For the day, the index rose 28.39 points or 0.93% to end at 3,076.44 after trading between 3,057.36 and 3,092.22. The volume was 1.60 billion shares worth S $ 1.24 billion. There were 319 winners and 160 decline.

Among assets, Ascendas REIT climbed 1.30%, while CapitaLand Integrated Commercial Trust improved 0.48%, City Developments increased 0.42%, Comfort DelGro jumped 2.63%, Dairy Farm International lost 0.29%, DBS Group rose 0.85%, Genting Singapore jumped 1.36%. Hong Kong Land climbed 4.30%, Keppel Corp gained 0.77%, Mapletree Commercial Trust 0.47%, Mapletree Logistics Trust 0.96%, Oversea-Chinese Banking Corporation 0.53%, SATS climbed 1.98%, SembCorp Industries accelerated 1.64%, Singapore Airlines soared 1.82%, Singapore Exchange increased 0.70%, Singapore Press Holdings increased 0.52%, Singapore Technologies Engineering grew 0.26%, SingTel improved 0.40%, Thai Beverage strengthened 1.55%, United Overseas Bank gained 0.59%, Wilmar International increased 0 , 49%, Yangzijiang Shipbuilding recovered 1.44 percent ad CapitaLand remained unchanged.

Wall Street’s lead is generally positive as the main averages opened sharply higher on Thursday and remained in the green throughout the session.

The Dow Jones jumped 506.50 points or 1.48% to close at 34,764.82, while the NASDAQ climbed 155.40 points or 1.04% to close at 15,052.24 and the S&P 500 jumped 53.34 points or 1.21% to close at 4,448.98.

Wall Street’s strength came amid easing concerns over Evergrande after the Chinese real estate developer struck a deal with mainland bondholders.

The massive injection of capital by the People’s Bank of China into the country’s banking system also allayed concerns about a possible Evergrande default.

In business news, the Department of Labor said the first claims for unemployment benefits in the United States had unexpectedly increased for the second week in a row of the week ended September 18.

Crude oil futures stabilized on Thursday amid prospects of increased energy demand and tight supply due to the slow recovery in production recovery in the Gulf from Mexico after the recent hurricanes. West Texas Intermediate crude oil futures for November ended $ 1.07 or 1.5% at $ 73.30 a barrel.

Closer to home, Singapore will see August figures for industrial production later in the day, with forecasts suggesting an increase of 3.1% month-on-month and 8.8% year-on-year. This follows the monthly decline of 2.6% and the annual gain of 16.3% in July.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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