Singapore stock market to be consolidated
(RTTNews) – The Singapore stock market has climbed higher in five consecutive sessions, collecting more than 60 points or 2% along the way. The Straits Times Index now sits just below the 3,165 point plateau, although investors could cash in on Friday.
Global forecasts for Asian markets are mixed and stable ahead of key US inflation data later today. The European and American markets were mixed and little changed and the Asian markets will follow.
The STI finished a little higher on Thursday after gains in financial stocks, real estate stocks and industrials.
For the day, the index gained 18.73 points or 0.60% to end at 3,164.82 after trading between 3,135.37 and 3,171.72. The volume was 2.61 billion shares with a value of 3.39 billion Singapore dollars. There were 297 winners and 195 decline.
Among assets, Ascendas REIT fell 0.34%, while CapitaLand added 0.55%, CapitaLand Integrated Commercial Trust fell 0.49%, City Developments rose 0.79%, Comfort DelGro climbed 2.47%, Dairy Farm International fell 1.12% DBS Group rose 0.30%, Keppel Corp rose 1.33%, Mapletree Commercial Trust slipped 0.97%, Mapletree Logistics Trust plunged 1.50%, Oversea-Chinese Banking Corporation climbed 1.47%, SATS climbed 2.93%, SembCorp Industries gained 0.94%, Singapore Airlines accelerated 2.06%, Singapore Exchange jumped 1.64%, Singapore Technologies Engineering collected 1.31%, SingTel fell 0.41%, United Overseas Bank collected 0.46%, Wilmar International gained 0.42%, Yangzijiang Shipbuilding a jumped 4.17% and Genting Singapore, Thai Beverage, Singapore Press Holdings and Jardine Strategic Holdings remained unchanged.
Wall Street’s lead is in conflict as the Dow and the S&P both opened in the green on Friday and ended similarly, while the NASDAQ saw a soft start and ended only slightly lower. .
The Dow Jones climbed 141.59 points or 0.41% to close at 34,464.64, while the NASDAQ released 1.72 points or 0.01% to close at 13,736.28 and the S&P 500 rose by 4.89 points or 0.12% to finish at 4200.88.
The poor performance came as traders continued to expect a much anticipated inflation reading later today. Reading inflation would be preferred by the Federal Reserve and could have a significant impact on the outlook for monetary policy.
Traders were also digesting a report from the Ministry of Labor showing that weekly jobless claims had again fallen to a new pandemic-era low. The continued decline in jobless claims paints a positive picture of the job market, but has also raised concerns that the Fed is getting closer to reducing its asset purchases in the near future.
In addition, the Commerce Department showed an unexpected decline in durable goods orders in April, and another report noted that the pace of US economic growth in the first quarter was not revised from the anticipated estimate. .
Crude oil prices rose Thursday, extending gains to a fifth straight session after crude inventories fell in the United States. West Texas Intermediate crude oil futures for July ended up $ 0.64 or 1% at $ 66.85 a barrel.
Closer to home, Singapore will provide April figures for import and export prices, as well as producer prices later today. In March, import prices rose 8.3 percent year-on-year and export prices increased 3.5 percent annually, while producer prices jumped 9.6 percent. one hundred over one year.
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