February 3, 2023

Market and Financial News

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Rebound Predicted For Singapore Stock Market

2 min read

The Singapore stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day winning streak in which it had gained almost 60 points or 1.9 percent. The Straits Times Index now rests just above the 3,225-point plateau although it figures to bounce higher again on Tuesday.

The global forecast for the Asian markets suggests mild support thanks to bargain hunting and supported by crude oil prices. The European and U.S. markets were modestly higher and the Asian bourses are tipped to open in similar fashion.

The STI finished slightly lower on Monday following losses from the financials, gains from the industrials and a mixed picture from the property sector.

For the day, the index dipped 5.34 points or 0.17 percent to finish at 3,226.63 after trading between 3,216.12 and 3,233.96. Volume was 1.8 billion shares worth 938.8 million Singapore dollars. There were 277 gainers and 214 decliners.

Among the actives, Ascendas REIT spiked 1.43 percent, while CapitaLand Integrated Commercial Trust added 0.45 percent, City Developments climbed 0.61 percent, Comfort DelGro rallied 0.69 percent, DBS Group tumbled 0.94 percent, Hongkong Land slumped 0.77 percent, Keppel Corp gained 0.44 percent, Mapletree Industrial Trust rose 0.40 percent, Mapletree Logistics Trust advanced 0.60 percent, SATS slid 0.24 percent, SembCorp Industries jumped 1/08 percent, Singapore Exchange lost 0.31 percent, Singapore Technologies Engineering skidded 0.73 percent, SingTel fell 0.39 percent, United Overseas Bank sank 0.66 percent, Wilmar International was up 0.24 percent, Yangzijiang Financial surged 3.85 percent, Yangzijiang Shipbuilding soared 2.56 percent and Genting Singapore, Mapletree Commercial Trust, Thai Beverage, Oversea-Chinese Banking Corporation, CapitaLand Investment and Jardine Matheson were unchanged.

The lead from Wall Street ends up positive as the major averages opened sharply higher on Monday but faded throughout the…

2022-06-06 20:01:32

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