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Singapore Shares May Head South Again On Tuesday

The Singapore stock market on Monday ended the three-day losing streak in which it had lost almost 70 points or 2.2 percent. The Straits Times Index now rests just beneath the 3,100-point plateau although it may open under pressure again on Tuesday.

The global forecast for the Asian markets is mixed to lower, thanks to ongoing concerns regarding the trade spat between the United States and China. The European markets were up and the U.S. bourses were down and the Asian markets are expected to follow the latter lead.

The STI finished modestly higher on Monday following gains from the financial shares, industrial issues and property stocks.

For the day, the index climbed 21.12 points or 0.69 percent to finish at 3,099.48 after trading between 3,079.90 and 3,104.11. Volume was 582.11 million shares worth 705.51 million Singapore dollars. There were 202 gainers and 133 decliners.

Among the actives, Golden Agri-Resources plummeted 4.55 percent, while SingTel surged 2.26 percent, City Developments soared 2.19 percent, Thai Beverage and Keppel Corp both spiked 1.72 percent, Singapore Technologies Engineering accelerated 1.56 percent, Comfort DelGro jumped 1.26 percent, CapitaLand Mall Trust climbed 1.16 percent, Singapore Exchange advanced 1.08 percent, SembCorp Industries added 0.97 percent, CapitaLand gained 0.86 percent, United Overseas Bank collected 0.60 percent, Oversea-Chinese Banking Corporation and Genting Singapore both rose 0.56 percent, Wilmar International perked 0.55 percent, DBS Group and Yangzijiang Shipbuilding both gathered 0.53 percent, Mapletree Commercial Trust was up 0.43 percent and CapitaLand Commercial Trust was unchanged.

The lead from Wall Street is soft as stocks showed a lack or direction on Monday, bouncing back and forth across the unchanged line before finishing in the red.

The Dow shed 95.70 points or 0.36 percent to 26,478.02, while the NASDAQ lost 26.18 points or 0.33 percent to 7,956.29 and the S&P 500 fell 13.22 points or 0.45 percent to 2,938.79.

The choppy trading on Wall Street came as traders seemed reluctant to make large moves ahead of Thursday's high-level trade talks in Washington. Chinese officials are signaling they're increasingly reluctant to agree to the broad trade deal being pursued by President Donald Trump.

The negotiations come as the trade war continues to hang over the economy, with a survey by the National Association for Business Economics showing 53 percent of economists see trade policy as the key downside risk to the economy.

Crude oil futures failed to hold early gains and ended slightly weak on Monday, despite data that showed a drop in OPEC output in September. West Texas Intermediate Crude oil futures for November ended down $0.06 at $52.75 a barrel after peaking at $54.06 earlier in the day.

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