June 27, 2022

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Singapore Stock Market Called Rangebound On Tuesday

2 min read

The Singapore stock market has moved lower in two of three trading days since the end of the six-day winning streak in which it had improved almost 95 points or 2.8 percent. The Straits Times Index now sits just above the 3,415-point plateau although it’s likely to rebound again on Tuesday.

The global forecast for the Asian markets is positive on support from technology stocks and energy companies. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The STI finished slightly lower on Monday as losses from the financials were offset by support from the properties.

For the day, the index eased 2.14 points or 0.06 percent to finish at 3,416.97 after trading between 3,414.82 and 3,424.79.

Among the actives, Ascendas REIT sank 0.68 percent, while City Developments added 0.88 percent, Dairy Farm International spiked 2.03 percent, DBS Group eased 0.06 percent, Hongkong Land advanced 0.99 percent, Keppel Corp perked 0.15 percent, Mapletree Commercial Trust improved 0.53 percent, Oversea-Chinese Banking Corporation lost 0.48 percent, SATS increased 0.47 percent, SembCorp Industries jumped 1.12 percent, Singapore Airlines gained 0.55 percent, Singapore Exchange collected 0.30 percent, SingTel fell 0.38 percent, United Overseas Bank slumped 0.63 percent, Yangzijiang Shipbuilding rallied 1.30 percent and Wilmar International, Mapletree Logistics Trust, Genting Singapore, CapitaLand Integrated Commercial Trust, Singapore Press Holdings, Singapore Technologies Engineering, Thai Beverage and Comfort DelGro all were unchanged.

The lead from Wall Street is upbeat as the major averages shook off early sluggishness on Monday and picked up steam as the session progressed, finishing firmly in the green.

The Dow climbed 103.61 points or 0.30 percent to finish at 34,921.88, while the NASDAQ surged 271.05 points or 1.90 percent to end at 14,532.55 and the S&P 500 gained 36.78 points or 0.81 percent to close at 4,582.64.

Shares of Twitter (TWTR) fueled the rally…

2022-04-04 20:00:54

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