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Win Streak May Continue For Singapore Bourse

The Singapore stock market has finished higher in four straight sessions, gathering almost 20 points or 0.6 percent along the way. The Straits Times Index remains just above the 3,330-point plateau and it's tipped to open higher again on Monday.

The global forecast for the Asian markets is upbeat after earnings season kicked off with better than expected numbers. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The STI finished barely higher on Friday as gains from the plantations and financials were capped by weakness from the industrials.

For the day, the index was up 1.16 points or 0.03 percent to finish at 3,331.98 after trading between 3,318.99 and 3,333.38. Volume was 1.25 billion shares worth 870.20 million Singapore dollars. There were 217 decliners and 201 gainers.

Among the actives, Hutchison Port Holdings plummeted 2.08 percent, while CapitaLand Commercial Trust plunged 2.02 percent, Wilmar International surged 1.70 percent, Golden Agri-Resources soared 1.59 percent, CapitaLand tumbled 0.82 percent, Yangzijiang Shipbuilding skidded 0.62 percent, Thai Beverage dropped 0.61 percent, Keppel Corp sank 0.60 percent, United Overseas Bank collected 0.57 percent, CapitaLand Mall Trust advanced 0.42 percent, Singapore Press Holdings shed 0.41 percent, Comfort DelGro added 0.38 percent, SingTel fell 0.32 percent, Singapore Exchange rose 0.27 percent, DBS Group gained 0.19 percent, Oversea-Chinese Banking Corporation was up 0.09 percent and SembCorp Industries, Ascendas REIT and Genting Singapore were unchanged.

The lead from Wall Street is positive as stocks opened higher on Friday and remained in the green throughout the session.

The Dow jumped 269.25 points or 1.03 percent to 26,412.30, while the NASDAQ added 36.80 points or 0.46 percent to 7,984.16 and the S&P 500 rose 19.09 points or 0.66 percent to 2,907.41. For the week, the Dow fell 0.1 percent, while the NASDAQ added 0.6 percent and the S&P 500 rose 0.5 percent.

The early strength on Wall Street followed quarterly results from JPMorgan Chase (JPM), which posted record Q1 earnings and revenues that beat the street - although some apprehension remains ahead of more earnings news this week.

In economic news, the Labor Department noted a bigger than expected increase in import prices in March, while the University of Michigan said that consumer sentiment deteriorated more than expected in April.

Crude oil futures ended higher on Friday with escalating unrest in Libya, the U.S. sanctions on Iran and Venezuela and OPEC-led output cuts tightening crude supply in the global market. West Texas Intermediate Crude oil futures for May ended up $0.31 or 0.5 percent at $63.89 a barrel.

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