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Soft Start Expected For Singapore Stock Market

(RTTNews) - The Singapore stock market on Tuesday ended the two-day slide in which it had stumbled almost 35 points or 1 percent. The Straits Times Index now rests just beneath the 3,250-point plateau although it's tipped to open in the red again on Wednesday.

The global forecast for the Asian markets suggests mild consolidation on geopolitical concerns in the Middle East and a drop in crude oil prices. The European and U.S. markets were down and the Asian markets figure to follow suit.

The STI finished modestly higher on Tuesday following gains from the financial shares, property stocks and industrial issues.

For the day, the index advanced 29.00 points or 0.90 percent to finish at the daily high of 3,247.86 after trading as low as 3,233.50. Volume was 1.5 billion shares worth 1.19 billion Singapore dollars. There were 248 gainers and 161 decliners.

Among the actives, Yangzijiang Shipbuilding surged 3.48 percent, while Wilmar International soared 3.37 percent, City Developments accelerated 2.35 percent, Singapore Press Holdings spiked 2.34 percent, Singapore Technologies jumped 2.29 percent, SembCorp Industries climbed 2.19 percent, CapitaLand Commercial Trust gathered 1.50 percent, Mapletree Commercial Trust perked 1.27 percent, United Overseas Bank advanced 1.25 percent, CapitaLand Mall Trust added 1.23 percent, Genting Singapore gained 1.09 percent, CapitaLand rose 1.05 percent, Ascendas REIT increased 1.00 percent, Comfort DelGro was up 0.86 percent, Keppel Corp gained 0.74 percent, DBS Group and Oversea-Chinese Banking Corporation both collected 0.73 percent, Singapore Exchange picked up 0.70 percent, Mapletree Logistics Trust added 0.58 percent, SingTel rose 0.30 percent and Thai Beverage was unchanged.
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