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Singapore Stock Market May Run Out Of Steam

The Singapore stock market has finished higher in four straight sessions, advancing almost 25 points or 0.7 percent in that span. The Straits Times Index now rests just above the 3,220-point plateau although the rally may stall on Wednesday.

The global forecast for the Asian markets suggests little movement ahead of the FOMC interest rate decision later today. The European markets were up and the U.S. bourses were mixed and flat - and the Asian markets are tipped to follow the latter lead.

The STI finished modestly higher on Tuesday as gains from the financials and industrials were capped by weakness from the property stocks.

For the day, the index gained 7.96 points or 0.25 percent to finish at 3,220.92 after trading between 3,204.13 and 3,221.69. Volume was 789.53 million shares worth 1.01 billion Singapore dollars. There were 192 gainers and 170 decliners.

Among the actives, Yangzijiang Shipbuilding surged 3.45 percent, while Comfort DelGro soared 2.03 percent, CapitaLand Commercial Trust tumbled 2.02 percent, CapitaLand Mall Trust spiked 1.28 percent, SembCorp Industries jumped 1.18 percent, Keppel Corp climbed 0.81 percent, Hongkong Land Holdings skidded 0.81 percent, Ascendas REIT, DBS Group and United Overseas Bank all collected 0.71 percent, Oversea-Chinese Banking Corporation advanced 0.54 percent, SingTel fell 0.33 percent, Wilmar International lost 0.30 percent, CapitaLand sank 0.29 percent, Singapore Airlines added 0.20 percent and Hutchison Port Holdings, Golden Agri-Resources, Thai Beverage and Genting Singapore all were unchanged.

The lead from Wall Street offers little guidance as the major averages shook off an early spike Tuesday and finished roughly flat.

The Dow shed 26.72 points or 0.10 percent to finish at 25,887.38, while the NASDAQ added 9.47 points or 0.12 percent to 7,723.95 and the S&P 500 fell 0.37 points or 0.01 percent to 2,832.57.

The early strength on Wall Street partly reflected continued optimism about U.S.-China trade talks, although that ebbed on reports that China is pushing back against American demands.

Traders were also reluctant to make big moves ahead of the Federal Reserve's monetary policy decision later today. The Fed is widely expected to leave interest rates unchanged, although the accompanying statement may provide clues about the outlook for rates.

Crude oil futures settled marginally lower on Tuesday, as traders weighed the supply and demand situation in the market. West Texas Intermediate Crude oil futures for April ended down $0.06 or 0.1 percent at $59.03 a barrel.

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