Singapore stock market expected to stay in a range
(RTTNews) – The Singapore stock market has risen in two of three trading days since the end of the two-day slide in which it had fallen more than 20 points or 0.7%. The Straits Times index now sits just below the 3,130 point plateau, although it is expected to decline further on Friday.
Global forecasts for Asian markets are mixed to lower, with profit taking – especially among tech stocks – fueling a downward correction after strong gains a day earlier. European markets were up and US stock markets were down and Asian markets are expected to follow this latest trend.
The STI ended slightly higher on Thursday following gains in financial stocks and industrials.
For the day, the index improved 13.92 points or 0.45% to end at 3,128.80 after trading between 3,113.05 and 3,137.31. The volume was 941 million shares valued at S $ 979.1 million. There were 265 winners and 202 declining ones.
Among assets, Ascendas REIT lost 0.34%, while CapitaLand Integrated Commercial Trust fell 0.50%, City Developments fell 2.69%, Comfort DelGro fell 1.43%, Dairy Farm International plunged 2.48%, DBS Group rose 1.35%, Hongkong Land lost 1.85%, Keppel Corp gained 0.39%, Oversea-Chinese Banking Corporation collected 0.80%, SATS a added 0.52%, SembCorp Industries jumped 3.59%, Singapore Airlines fell 0.20%, Singapore Exchange fell 0.21%, Singapore Technologies Engineering rose 0.27%, SingTel rose 0.83%, United Overseas Bank climbed 1.31%, Yangzijiang Shipbuilding sank 0.77% and Singapore Press Holdings, Wilmar International, Mapletree Commercial Trust, Mapletree Logistics Trust, Genting Singapore and Thai Beverage remained unchanged .
Wall Street’s lead is negative as major averages opened slightly higher on Thursday, but quickly declined, falling to session lows at the close.
The Dow Jones lost 29.79 points or 0.08% to close at 35,897.64, while the NASDAQ fell 385.15 points or 2.47% to close at 15,180.43 and the S&P 500 fell. lost 41.18 points or 0.87% to finish at 4,668.67.
Wall Street’s pullback came as traders continued to digest the Federal Reserve’s monetary policy announcement on Wednesday, which was to step up the pace of its asset purchases cut and forecast up to three rate hikes. interest next year.
While some stocks benefited from reduced uncertainty about the outlook for monetary policy, high-growth tech stocks fell sharply amid concerns about the impact of rising interest rates.
In economic news, the Labor Department noted a modest rebound in first jobless claims last week, while the Fed also said U.S. industrial production grew less than expected in November. Additionally, the Commerce Department said housing starts and building permits both rose much more than expected last month.
Crude oil futures stabilized higher on Thursday, helped by data showing increased demand for energy in the United States and a larger-than-expected decline in U.S. crude inventories last week. West Texas Intermediate crude oil futures for January ended up $ 1.51 or 2.1% at $ 72.38 a barrel.
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