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Singapore Bourse May Reverse Thursday's Losses

The Singapore stock market on Thursday snapped the three-day winning streak in which it had gathered almost 60 points or 1.9 percent. The Straits Times Index now rests just beneath the 3,195-point plateau although it figures to bounce higher again on Friday.

The global forecast for the Asian markets is upbeat on optimism regarding trade and interest rates, The European and U.S. markets were slightly higher and the Asian bourses are predicted to open in similar fashion.

The STI finished modestly lower on Thursday following weakness from the properties, mixed performances from the plantations and industrials and mild support from the financials.

For the day, the index dipped 9.56 points or 0.30 percent to finish at 3,194.96 after trading between 3,191.62 and 3,216.87. Volume was 985.7 million shares worth 1.01 billion Singapore dollars. There were 181 decliners and 179 gainers.

Among the actives, Yangzijiang Shipbuilding surged 4.72 percent, while Hutchison Port Holdings soared 2.56 percent, Singapore Airlines spiked 1.88 percent, Golden Agri-Resources jumped 1.85 percent, Singapore Exchange plummeted 1.63 percent, Comfort DelGro plunged 1.21 percent, Ascendas REIT tumbled 0.95 percent, SembCorp Industries skidded 0.90 percent, Singapore Technologies dropped 0.76 percent, Keppel Corp sank 0.64 percent, Thai Beverage climbed 0.56 percent, Singapore Press Holdings shed 0.48 percent, DBS Group advanced 0.48 percent, CapitaLand Mall Trust lost 0.38 percent, SingTel fell 0.31 percent, Wilmar International added 0.26 percent, United Overseas Bank collected 0.15 percent, Oversea-Chinese Banking Corporation rose 0.09 percent and Genting Singapore, CapitaLand Commercial Trust and CapitaLand were unchanged.

The lead from Wall Street suggests mild upside as stocks fluctuated on Thursday but maintained a positive bias. The major averages once again ended the session at their best closing levels in over a month.

The Dow added 45.41 points or 0.17 percent to 27,182.45, while the NASDAQ gained 24.79 points or 0.30 percent to 8,194.47 and the S&P 500 rose 8.64 points or 0.29 percent to 3,0009.57.

Stocks fluctuated throughout much of the session as traders reacted to conflicting reports regarding an interim U.S.-China trade deal. Stocks showed a notable move to the upside on reports that Trump administration officials have discussed offering an interim trade agreement to China.

However, stocks ebbed after a senior White House official told CNBC the U.S. is "absolutely not" considering an interim trade deal. But the markets maintained a positive bias when Trump said he is temporarily delaying raising tariffs on $250 billion worth of Chinese imports.

Positive sentiment was also generated in reaction to the European Central Bank's monetary policy decision, with the ECB cutting rates and announcing a massive new bond-buying program.

Crude oil futures ended lower on Thursday, extending losses to a third straight session following a downward revision in OPEC's oil demand forecast and speculation that the U.S. may ease sanctions on Iran. West Texas Intermediate Crude oil futures for October ended down $0.66 or 1.2 percent at $55.09 a barrel.

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