logo
Plus   Neg
Share
Email

Singapore Bourse May Add To Its Winnings

The Singapore stock market has moved higher in two straight sessions, collecting more than 20 points or 0.7 percent along the way. The Straits Times Index now rests just above the 3,130-point plateau and it's looking at a higher open again on Friday.

The global forecast for the Asian markets suggests mild upside with optimism over trade tempered by falling oil prices. The European markets were mixed and flat and the U.S. bourses were up - and the Asian markets figure to follow the latter lead.

The STI finished modestly higher on Thursday as gains from the financials and properties were capped by weakness from the industrial issues.

For the day, the index gained 7.12 points or 0.23 percent to finish at 3,131.77 after trading between 3,114.74 and 3,139.48. Volume was 2.1 billion shares worth 1.1 billion Singapore dollars. There were 206 gainers and 190 decliners.

Among the actives, Yangzijiang Shipbuilding plummeted 4.39 percent, while Genting Singapore plunged 0.96 percent, CapitaLand Mall Trust soared 0.95 percent, Oversea-Chinese Banking Corporation spiked 0.91 percent, Ascendas REIT advanced 0.87 percent, Thai Beverage tumbled 0.80 percent, DBS Group jumped 0.78 percent, Keppel Corp climbed 0.77 percent, SembCorp Industries skidded 0.68 percent, United Overseas Bank collected 0.62 percent, Comfort DelGro added 0.44 percent, SingTel and Wilmar International both gained 0.32 percent, CapitaLand was up 0.31 percent and Hutchison Port Holdings, Golden Agri-Resources, CapitaLand Commercial Trust and StarHub were unchanged.

The lead from Wall Street is firm as stocks moved mostly higher on Thursday, with the major averages all finishing in positive territory after ending Wednesday's session mixed.

The Dow added 147.07 points or 0.57 percent to 26,145.99, while the NASDAQ gained 59.48 points or 0.75 percent to 8,013.71 and the S&P was up 15.26 points or 0.53 percent to 2,904.18.

The strength on Wall Street reflected optimism about trade following recent reports the U.S. is proposing a new round of trade talks with China in the near future.

In economic news, the Labor Department said consumer prices rose less than expected in August. The Labor Department also noted a slight drop in initial jobless claims in the week ended September 8.

Crude oil prices tumbled Thursday following reports that global oil supply reached a record high in August. Crude oil futures for October ended down $1.78 or 2.5 percent at $68.59 a barrel on the New York Mercantile Exchange.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Follow RTT