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Additional Selling Pressure Tipped For Singapore Bourse

(RTTNews) - The Singapore stock market on Friday ended the two-day winning streak in which it had gathered almost 30 points or 1 percent. The Straits Times Index now rests just beneath the 3,240-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets is negative thanks to geopolitical concerns in the Middle East - although surging oil prices will offer support. The European markets were mixed on Friday and the U.S. bourses were down and the Asian markets are tipped to follow the latter lead.

The STI finished modestly lower on Friday following losses from the financials, while the properties and industrials were mixed.

For the day, the index sank 13.18 points or 0.41 percent to finish at 3,238.82 after trading between 3,227.63 and 3,268.73. Volume was 1.67 billion shares worth 1.05 billion Singapore dollars. There were 275 decliners and 169 gainers.

Among the actives, Singapore Press Holdings plummeted 2.27 percent, while Singapore Exchange plunged 2.26 percent, SembCorp Industries tumbled 1.30 percent, Singapore Technologies Engineering skidded 1.25 percent, Wilmar International retreated 1.19 percent, Thai Beverage declined 1.10 percent, SingTel dropped 0.88 percent, Yangzijiang Shipbuilding spiked 0.86 percent, Mapletree Logistics Trust sank 0.57 percent, Comfort DelGro, Mapletree Commercial Trust and DBS Group both all 0.42 percent, CapitaLand Mall Trust lost 0.41 percent, CapitaLand gained 0.26 percent, United Overseas Bank fell 0.19 percent, Oversea-Chinese Banking Corporation eased 0.09 percent and Keppel Corp, Genting Singapore, Hongkong Land, Ascendas REIT and CapitaLand Commercial Trust all were unchanged.
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