Singapore Stock Market May Be Stuck In Neutral On Monday

The Singapore stock market has finished higher in three straight sessions, gathering more than 40 points or 1.4 percent along the way. The Straits Times Index now sits just above the 3,110-point plateau although it's due for consolidation on Monday.

The global forecast for the Asian markets is soft following disappointing jobs data out of the United States, although support from crude oil is expected to limit the downside. The European and U.S. markets saw mild losses and the Asian markets figure to follow suit.

The STI finished modestly higher on Friday following gains from the industrials, properties and financials.

For the day, the index added 11.66 points or 0.38 percent to finish at 3,112.81 after trading between 3,093.56 and 3,114.47. Volume was 1.54 billion shares worth 1.02 billion Singapore dollars. There were 315 gainers and 153 decliners.

Among the actives, Ascendas REIT added 0.34 percent, while CapitaLand Integrated Commercial Trust advanced 0.47 percent, City Developments increased 0.14 percent, Comfort DelGro gathered 0.66 percent, Dairy Farm International gained 0.30 percent, DBS Group eased 0.10 percent, Genting Singapore sank 0.68 percent, Keppel Corp climbed 0.77 percent, Mapletree Logistics Trust lost 0.50 percent, Oversea-Chinese Banking Corporation perked 0.52 percent, SATS accelerated 0.97 percent, SembCorp Industries soared 1.09 percent, Singapore Airlines spiked 0.98 percent, Singapore Technologies Engineering rose 0.26 percent, SingTel jumped 0.81 percent, United Overseas Bank collected 0.31 percent, Wilmar International surged 1.39 percent, Yangzijiang Shipbuilding rallied 0.72 percent and Mapletree Commercial Trust, Thai Beverage, Singapore Exchange, Singapore Press Holdings and CapitaLand were unchanged.

The lead from Wall Street suggests mild consolidation as the major averages spent most of Friday's session bouncing back and forth across the unchanged line before finally heading lower towards the end of the day.

The Dow eased 8.65 points or 0.02 percent to finish at 34.746.25, while the NASDAQ sank 74.46 points or 0.51 percent to close at 14.579.54 and the S&P 500 fell 8.42 points or 0.19 percent to end at 4,391.34. For the week, the Dow rose 1.2 percent, the NASDAQ added 0.1 percent and the S&P perked 0.8 percent.

The choppy trading on Wall Street came after the Labor Department's closely watched monthly jobs report showed weaker than expected job growth in September, although the jobless rate fell more than anticipated.

The data led to some uncertainty about the outlook for monetary policy, although most economists agree the disappointing job growth will not dissuade the Federal Reserve from scaling back stimulus.

Crude oil futures jumped Friday after surging past $80 a barrel for the first time in seven years amid tighter supplies and signs of increasing demand. West Texas Intermediate Crude oil futures for November jumped $1.05 or 1.3 percent at $79.35 a barrel after climbing to a high of $80.11 a barrel. WTI crude futures gained 4.6 percent in the week, gaining for a seventh straight week.

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