Authorization

Singapore Shares May Be Stuck In Neutral

(RTTNews) - The Singapore stock market on Monday halted the seven-day winning streak in which it had picked up more than 120 points or 3.9 percent. The Straits Times Index now rests just above the 3,315-point plateau and it's likely to be spinning its wheels again on Tuesday.

The global forecast for the Asian markets is mixed and flat, with expected profit taking likely offset by a jump in crude oil prices. The European and U.S. markets were little changed and the Asian markets are predicted to follow that lead.

The STI finished modestly lower on Monday following mixed performances from the financials, properties and plantations.

For the day, the index fell 7.22 points or 0.22 percent to finish at 3,315.42 after trading between 3,309.17 and 3,327.66. Volume was 1.0 billion shares worth 894.96 million Singapore dollars.

Among the actives, Hutchison Port Holdings plummeted 2.08 percent, while Golden Agri-Resources plunged 1.56 percent, SembCorp Industries soared 1.48 percent, Comfort DelGro spiked 1.18 percent, Ascendas REIT jumped 1.05 percent, CapitaLand Commercial Trust climbed 1.02 percent, SingTel tumbled 0.97 percent, CapitaLand advanced 0.82 percent, DBS Group dropped 0.59 percent, Genting Singapore lost 0.51 percent, CapitaLand Mall Trust added 0.42 percent, Wilmar International rose 0.29 percent, Keppel Corp was up 0.15 percent, Oversea-Chinese Banking Corporation collected 0.09 percent, United Overseas Bank eased 0.08 percent and Singapore Airlines, Thai Beverage, Singapore Technologies and Yangzijiang Shipbuilding all were unchanged.

The lead from Wall Street is inconclusive as stocks opened lower on Monday before recovering later in the day to finish mixed and little changed.

The Dow shed 83.97 points or 0.32 percent to 26,341.02, while the NASDAQ added 15.19 points or 0.19 percent to 7,953.88 and the S&P 500 rose 3.03 points or 0.10 percent to 2,895.77.

Profit taking contributed to the early weakness on Wall Street following recent strength as lingering concerns about a slowdown in global economic growth inspired traders to cash in on recent gains.

However, traders seemed reluctant to make big moves ahead of earnings season, with financial giants JPMorgan Chase (JPM) and Wells Fargo (WFC) due to report quarterly results on Friday.

In economic news, the Commerce Department said new orders for manufactured goods fell slightly less than expected in February.

Crude oil prices ended higher Monday, amid escalating conflicts in Libya, along with OPEC-led production cuts and U.S. sanctions against Iran and Venezuela. West Texas Intermediate Crude oil futures for May ended up $1.32 or 2.1 percent at 64.40 a barrel, a five-month high.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Апрель 2019    »
ПнВтСрЧтПтСбВс
1234567
891011121314
15161718192021
22232425262728
2930