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Little Movement Expected For Singapore Stock Market

The Singapore stock market on Tuesday wrote a finish to the two-day losing streak in which it had fallen almost 40 points or 1.3 percent. The Straits Times Index now rests just above the 3,210-point plateau and it's expected to be rangebound again on Wednesday.

The global forecast for the Asian markets is cautiously optimistic on an upbeat outlook for interest rates and mild upside in crude oil prices. The European and U.S. markets were mixed and the Asian markets are tipped to inch higher.

The STI finished modestly higher on Tuesday following gains from the financial shares, plantation stocks, properties and industrials.

For the day, the index gathered 20.83 points or 0.65 percent to finish at 3,212.25 after trading between 3,209.08 and 3,228.21. Volume was 1.18 billion shares worth 1.09 billion Singapore dollars. There were 261 gainers and 183 decliners.

Among the actives, Golden Agri-Resources surged 3.70 percent, while Yangzijiang Shipbuilding soared 2.17 percent, CapitaLand Mall Trust spiked 2.11 percent, City Developments jumped 2.04 percent, Singapore Exchange tumbled 1.61 percent, CapitaLand Commercial Trust climbed 1.55 percent, Wilmar International advanced 1.25 percent, Genting Singapore gathered 0.99 percent, United Overseas Bank perked 0.97 percent, DBS Group collected 0.72 percent, SingTel added 0.68 percent, Thai Beverage gained 0.62 percent, Keppel Corp rose 0.49 percent, SembCorp Industries was up 0.39 percent, Oversea-Chinese Banking Corporation added 0.09 percent and Hutchison Port Holdings was unchanged.

The lead from Wall Street is inconsistent as the major averages moved in opposite directions on Tuesday.

The Dow shed 96.22 points or 0.38 percent to finish at 25,554.66, while the NASDAQ rose 32.97 points or 0.44 percent to 7,591.03 and the S&P added 8.22 points or 0.30 percent to 2,791.52.

The loss posted by the Dow was largely due to a continued decline by Boeing (BA) after the European Union, China, the U.K. and other countries grounded the company's 737 MAX jets following the second crash in less than six months.

Meanwhile, the broader markets benefited from the release of tame inflation data, which suggests the Federal Reserve will continue to refrain from raising interest rates in the near future.

Crude oil futures ended slightly higher on Tuesday, with traders looking ahead to the weekly inventory data. West Texas Intermediate Crude oil futures for April added $0.08 or 0.1 percent at $56.87 a barrel.

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