The Singapore stock market has moved higher in back-to-back trading days, advancing almost 40 points or 1.3 percent along the way. The Straits Times Index now sits just above the 3,150-point plateau and it’s looking at a steady start again on Tuesday.
The global forecast for the Asian markets is slightly positive, with economic optimism tempered by coronavirus concerns. The European and U.S. markets were slightly higher and the Asian bourses are tipped to follow that lead.
The STI finished modestly higher on Monday as gains from the financial shares and property stocks were capped by weakness from the industrials.
For the day, the index added 15.74 points or 0.50 percent to finish at 3,147.14 after trading between 3,135.19 and 3,161.21. Volume was 1.26 billion shares worth 914.40 million Singapore dollars. There were 257 gainers and 225 decliners.
Among the actives, Ascendas REIT soared 0.66 percent, while CapitaLand added 0.53 percent, CapitaLand Integrated Commercial Trust gained 0.47 percent, City Developments and Dairy Farm International both sank 0.72 percent, DBS Group collected 0.94 percent, Genting Singapore accelerated 0.60 percent, Hongkong Land tumbled 1.05 percent, Keppel Corp slid 0.19 percent, Oversea-Chinese Banking Corporation and Singapore Technologies Engineering both jumped 0.76 percent, SATS fell 0.50 percent, SembCorp Industries skidded 0.94 percent, Singapore Exchange advanced 0.54 percent, SingTel spiked 0.88 percent, United Overseas Bank surged 1.05 percent, Wilmar International rose 0.44 percent, Yangzijiang Shipbuilding climbed 0.71 percent and Mapletree Commercial Trust, Mapletree Logistics Trust, Jardine Cycle, Thai Beverage, Singapore Airlines, Singapore Press Holdings and Comfort DelGro all were unchanged.
The lead from Wall Street suggests mild upside as stocks shook off a mixed start on Monday and wound up with modest gains to fresh record closing highs.
The Dow climbed 126.02 points or 0.36 percent to finish at 34,996.18, while the NASDAQ added 31.32 points or 0.21 percent to end at 14,733.24 and the S&P 500 rose 15.08 points or 0.35 percent to close at 4,384.63.
The modestly higher close on Wall Street reflected recent upward momentum, which has helped propel stocks to record highs despite uncertainty about the global economic outlook.
Traders may also have been reluctant to make significant moves ahead of the start of earnings season, with several big-name companies due to report their quarterly results this week.
Crude oil futures closed lower Monday after two days of gains amid concerns about the outlook for energy demand due to the surge in the delta variant of the coronavirus. West Texas Intermediate Crude oil futures for August ended down $0.46 or 0.6 percent at $74.10 a barrel.
Singapore Stock Market Tipped To Open In The Green
2021-07-13 00:00:10
