Plus   Neg

Win Streak May End For Singapore Stock Market

The Singapore stock market has finished higher in two straight sessions, gathering more than 10 points or 0.3 percent along the way. The Straits Times Index now rests just above the 3,255-point plateau although it may run out of steam on Monday.

The global forecast for the Asian markets is slightly soft as disappointing U.S. jobs data may trigger profit taking after recent gains. The European and U.S. markets were down on Friday and the Asian bourses are tipped to follow suit.

The STI finished modestly higher on Friday following gains from the properties and plantations, while the financials were mixed.

For the day, the index rose 8.47 points or 0.26 percent to finish at 3,255.95 after trading between 3,246.62 and 3,261.28. Volume was 1.57 billion shares worth 1.20 billion Singapore dollars. There were 226 gainers and 193 decliners.

Among the actives, CapitaLand surged 1.82 percent, while City Developments soared 1.61 percent, Wilmar International spiked 1.40 percent, SingTel plummeted 1.19 percent, CapitaLand Commercial Trust accelerated 0.97 percent, Mapletree Commercial Trust jumped 0.83 percent, CapitaLand Mall Trust climbed 0.80 percent, Mapletree Logistics Trust advanced 0.57 percent, Thai Beverage added 0.56 percent, DBS Group collected 0.54 percent, Oversea-Chinese Banking Corporation gained 0.45 percent, Comfort DelGro shed 0.44 percent, SembCorp Industries lost 0.43 percent, Ascendas REIT rose 0.33 percent, Keppel Corp increase 0.29 percent, Singapore Exchange sank 0.11 percent, United Overseas Bank eased 0.07 percent and Yangzijiang Shipbuilding, Genting Singapore and Singapore Technologies Engineering were unchanged.

The lead from Wall Street is negative as stocks opened higher on Friday but headed south in the late morning and finished in the red, pulling back from record closing highs.

The major averages finished with mild losses as the Dow shed 133.13 points or 0.46 percent to 28,823.77, while the NASDAQ dipped 24.57 points or 0.27 percent to 9,178.86 and the S&P 500 fell 9.35 points or 0.29 percent to 3,265.35.

The higher open was the result of continued optimism over easing concerns about a conflict between the U.S. and Iran.

But the markets turned lower in late morning after the Labor Department's closely watched non-farm payroll data showed the pace of job growth slowed more than expected in December.

Crude oil prices drifted lower Friday, declining for a fourth successive session, amid easing tensions in the Middle East, after the U.S. decided against military action on Iran. West Texas Intermediate Crude oil futures for February ended down $0.52, or about 0.9 percent, at $59.04 a barrel.

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