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Singapore Bourse Predicted To End Losing Streak

(RTTNews) - The Singapore stock market has moved lower in two straight sessions, retreating almost 35 points or 1 percent along the way. The Straits Times Index now rests just beneath the 3,220-point plateau and it's tipped to open in the green on Tuesday.

The global forecast for the Asian markets is cautiously optimistic as traders suspect the geopolitical concerns in the Middle East may be overdone - while surging crude oil prices also offer support. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The STI finished modestly lower on Monday following losses from the financial shares and property stocks.

For the day, the index fell 19.96 points or 0.62 percent to finish at 3,218.86 after trading between 3,210.68 and 3,226.11. Volume was 1.32 billion shares worth 1.02 billion Singapore dollars. There were 277 decliners and 154 gainers.

Among the actives, Yangzijiang Shipbuilding plummeted 1.71 percent, while Comfort DelGro plunged 1.69 percent, Thai Beverage tumbled 1.12 percent, Genting Singapore skidded 1.08 percent, Singapore Airlines retreated 1.00 percent, United Overseas Bank declined 0.98 percent, Oversea-Chinese Banking Corporation dropped 0.91 percent, Mapletree Commercial Trust sank 0.84 percent, CapitaLand Mall Trust shed 0.82 percent, Singapore Technologies Engineering lost 0.76 percent, SingTel fell 0.59 percent, Singapore Exchange slid 0.58 percent, DBS Group and City Developments both dipped 0.54 percent, Singapore Press Holdings eased 0.47 percent, Ascendas REIT added 0.34 percent and Wilmar International, Mapletree Logistics, Keppel Corp, SembCorp Industries, CapitaLand and CapitaLand Commercial Trust all were unchanged.
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