The Singapore stock market has moved lower in back-to-back sessions, easing almost 5 points or 0.2 percent in that span. The Straits Times Index now rests just above the 3,235-point and it may extend its losses on Wednesday.
The global forecast for the Asian markets remains soft thanks to ongoing geopolitical concerns, although a rebound in the price of crude oil may limit the downside. The European and U.S. markets were down and the Asian bourses figure to follow that lead.
The STI finished barely lower on Tuesday following losses from the plantations, [properties and industrials.
For the day, the index lost 2.56 points or 0.08 percent to finish at 3,235.75 after trading between 3,229.59 and 3,242.04.
Among the actives, Yangzijiang Shipbuilding plummeted 2.75 percent, while Genting Singapore dropped 2.54 percent, Thai Beverage climbed 1.13 percent, Wilmar International shed 0.84 percent, SingTel fell 0.53 percent, CapitaLand lost 0.28 percent, United Overseas Bank collected 0.09 percent and Golden Agri-Resources and DBS Group were unchanged.
The lead from Wall Street is negative as stocks showed a lack of direction on Tuesday before finishing lower.
The Dow dipped 47.81 points or 0.2 percent to 21,136.23, while the NASDAQ slid 20.63 points or 0.3 percent to 6,275.06 and the S&P 500 fell 6.77 points or 0.3 percent to 2,429.33.
The lower close came amid uncertainty ahead of key events later this week, including the U.K. election, the ECB meeting and former FBI Director James Comey's congressional hearing.
Concerns about rising tensions in the Middle East also weighed amid news Saudi Arabia, the United Arab Emirates, Bahrain and Egypt have severed diplomatic ties with Qatar, accusing the energy-rich nation of supporting terrorism and destabilizing the region.
However, energy stocks moved higher on the day amid a rebound by the price of crude oil. Crude for July delivery climbed $0.79 to $48.19 a barrel after hitting a low of $46.94 a barrel.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.