The Singapore stock market has closed lower now in two of three sessions since the end of the five-day winning streak in which it had gathered more than 90 points or 3.1 percent. The Straits Times Index finished just above the 2,945-point plateau, and now investors are expected to go looking for bargains when the market kicks off trade on Tuesday.
The global forecast for the Asian markets is cautiously optimistic as solid earnings news out of the U.S. was hurt by weak economic data. Oil, telecom and technology stocks are expected to provide support, while the financial and airlines sectors are expected to remain weak. The European markets finished lower and the U.S. bourses ended higher, and the Asian markets are also expected to track slightly to the upside.
The STI finished modestly lower on Monday, weighed down by losses from among the shipping, financial and plantation sectors.
For the day, the index declined 12.30 points or 0.42 percent to finish at 2,945.42. Volume was 1.03 billion shares worth 0.92 billion Singapore dollars. There were 280 decliners and 121 gainers.
Among the actives, Neptune Orient Lines shed 2.0 percent, while DBS Holdings lost 1.6 percent, Olam International added 1.2 percent and Wilmar International declined 0.8 percent.
The lead from Wall Street calls for modest upside as stocks ended Monday's session notably higher, with traders buying into the markets amid continued upbeat expectations of a solid earnings season. Early session movement was choppy following some mixed earnings news and a slide in homebuilder confidence, but stocks turned higher in anticipation of quarterly results from IBM Corp. (IBM) and Texas Instruments (TXN).
In earnings news, Halliburton Co. (HAL) reported second-quarter net income and revenues that topped estimates, while Delta Air Lines Inc. (DAL) beat profit expectations but fell short on the revenue front.
Also early in the session, the markets looked to data from the National Association of Home Builders, which said that the NAHB/Wells Fargo Housing Market Index fell to 14 in July from a downwardly revised 16 in June. Economists had expected the index to edge down to 16 from the 17 originally reported for the previous month. With the bigger than expected drop, the housing market index fell to its lowest level since a matching reading in April 2009 - but the index remains well above the record low of 8 set in January 2009.
In other news, the amount spent by battered oil giant BP PLC (BP) connected to the spill in the Gulf of Mexico has almost reached the $4 billion mark. In an update on its response to the worst oil slick in U.S. history, the company said the 91-day-old oil spill has so far cost it a total of $3.95 billion. That includes containment costs, relief well drilling, grants to the Gulf states, claims paid, and federal costs. The major averages all saw some choppy movement in late-session dealing but still closed firmly in positive territory. The Dow gained 56.53 points or 0.6 percent to end at 10,154.43, the NASDAQ jumped by 19.18 points or 0.9 percent to 2,198.23 and the S&P 500 rose by 6.37 points or 0.6 percent to 1,071.25.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.