Rally May Stall For Singapore Stock Market

(RTTNews) - The Singapore stock market has climbed higher in three straight sessions, advancing more than 50 points or 1.6 percent along the way. The Straits Times Index now rests just beneath the 3,200-point plateau although it may run out of steam on Wednesday.

The global forecast for the Asian markets suggests mild consolidation ahead of the Federal Reserve's highly anticipated monetary policy announcement later today. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow suit.

The STI finished modestly higher on Tuesday as gains from the financial shares and industrials were offset by weakness from the properties and plantations.

For the day, the index rose 11.51 points or 0.36 percent to finish at 3,197.04 after trading between 3,187.29 and 3,227.15. Volume was 1.09 billion shares worth 1.46 billion Singapore dollars. There were 235 decliners and 178 gainers.

Among the actives, Golden Agri-Resources plummeted 4.55 percent, while SembCorp Industries plunged 2.59 percent, Singapore Exchange surged 2.37 percent, Comfort DelGro tumbled 1.65 percent, Ascendas REIT skidded 1.25 percent, United Overseas Bank spiked 1.19 percent, DBS Group collected 0.75 percent, Keppel Corp dropped 0.72 percent, CapitaLand and Thai Beverage both shed 0.55 percent, Yangzijiang Shipbuilding advanced 0.53 percent, CapitaLand Commercial Trust lost 0.49 percent, SingTel fell 0.31 percent, Oversea-Chinese Banking Corporation added 0.28 percent, Singapore Technologies Engineering slid 0.25 percent and Wilmar International, Genting Singapore, Mapletree Commercial Trust and Singapore Press Holdings were unchanged.
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