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Singapore Bourse Tipped To Extend Winning Streak

(RTTNews) - The Singapore stock market has finished higher in seven straight sessions, gathering more than 120 points or 3.9 percent along the way. The Straits Times Index now rests just above the 3,320-point plateau and it's got another green light again on Monday.

The global forecast for the Asian markets is upbeat on solid economic data and trade optimism. The European and U.S. markets were higher on Friday and the Asian bourses are tipped to follow suit.

The STI finished slightly higher on Friday following gains from the financial shares, industrials and plantation stocks.

For the day, the index collected 6.43 points or 0.19 percent to finish at 3,322.64 after trading between 3,316.66 and 3,332.59. Volume was 953.80 million shares worth 976.29 million Singapore dollars. There were 238 gainers and 147 decliners.

Among the actives, CapitaLand Mall Trust plummeted 2.47 percent, while Ascendas REIT plunged 2.38 percent, Comfort DelGro tumbled2/31 percent, Hutchison Port Holdings surged 2.13 percent, Golden Agri-Resources spiked 1.59 percent, Genting Singapore jumped 1.55 percent, CapitaLand Commercial Trust skidded 1.51 percent, Yangzijiang Shipbuilding climbed 1.26 percent, Oversea-Chinese Banking Corporation advanced 0.69 percent, Thai Beverage perked 0.61 percent, DBS Group collected 0.48 percent, United Overseas Bank added 0.42 percent, Keppel Corp gained 0.31 percent, Wilmar International rose 0.29 percent, CapitaLand and Singapore Exchange both were up 0.27 percent and SingTel and SembCorp Industries were unchanged.

The lead from Wall Street is positive as stocks opened modestly higher on Friday and remained in the green throughout the session.

The Dow added 40.36 points or 0.15 percent to 26,424.99, while the NASDAQ gained 46.91 points or 0.59 percent to 7,938.69 and the S&P 500 rose 13.35 points or 0.46 percent to 2,892.74. For the week, the Dow added 1.9 percent, the NASDAQ jumped 2.7 percent and the S&P rose 2.1 percent.

The initial strength on Wall Street came in reaction to the Labor Department report showing a significant jump in the pace of U.S. job growth in March.

The markets maintained a positive bias amid continued indications of progress in U.S.-China trade talks after the latest round of high-level negotiations.

Crude oil futures ended higher on Friday, supported by OPEC-led supply cuts. West Texas Intermediate crude oil futures for May ended up $0.98 or 1.6 percent at $63.08 a barrel.
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