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Singapore Shares Called Lower On Monday

The Singapore stock market has finished higher in three straight sessions, climbing almost 150 points or 4.8 percent along the way. The Straits Times Index now rests just above the 3,115-point plateau although it's expected to hand back some of those gains on Monday.

The global forecast for the Asian markets is soft, with technology stocks expected to weigh amid profit taking and concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were down and the Asian markets are tipped to follow the latter lead.

The STI finished sharply higher on Friday following gains from the financials, properties and industrials.

For the day, the index spiked 55.54 points or 1.81 percent to finish at 3,116.39 after trading between 3,077.50 and 3,121.27. Volume was 2.56 billion shares worth 1.55 billion Singapore dollars. There were 309 gainers and 130 decliners.

Among the actives, Genting Singapore surged 6.18 percent, while City Developments soared 4.27 percent, Hutchison Port Holdings spiked 4.17 percent, Golden Agri-Resources plunged 3.85 percent, Thai Beverage jumped 3.15 percent, DBS Group climbed 2.96 percent, Oversea-Chinese Banking Corporation and Singapore Exchange both advanced 2.87 percent, United Overseas Bank collected 2.27 percent, CapitaLand Mall Trust perked 2.07 percent, Comfort DelGro gathered 1.75 percent, CapitaLand added 1.58 percent, Yangzijiang Shipbuilding gained 1.57 percent, Keppel Corporation was up 1.28 percent, Wilmar International rose 0.95 percent, CapitaLand Commercial Trust picked up 0.59 percent and SingTel and SembCorp Industries were unchanged.

The lead from Wall Street is soft as stocks shrugged off a positive open, moving lower as the day progressed and ending in the red.

The Dow fell 109.91 points or 0.43 percent to 25,270.83, while the NASDAQ slumped 77.06 points or 1.04 percent to 7,356.99 and the S&P slid 17.31 points or 0.63 percent to 2,723.06. For the week, the NASDAQ surged 2.6 percent, and the Dow and the S&P both jumped 2.4 percent.

The downturn on Wall Street was led by Apple (AAPL) after the company reported fiscal fourth quarter earnings and revenues that exceeded estimates but weaker than expected iPhone shipments, with disappointing guidance.

The pullback also came as traders digested the Labor Department report showing stronger than expected job growth in October. The upbeat jobs data paints of positive picture for the U.S. economy but also led to renewed concerns about the outlook for interest rates.

Crude oil prices moved lower Friday, extending losses as President Donald Trump announced plans to reimpose sanctions on Iran. The price of crude oil for December delivery fell $0.55 to $63.14 a barrel.

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