Soft Start Seen For Singapore Stock Market

(RTTNews) - The Singapore stock market has moved lower in two of three trading days since the end of five-day winning streak in which it had summoned more than 110 points or 4.4 percent. The Straits Times Index now rests just above the 2,650-point plateau and it may take further damage on Friday.

The global forecast for the Asian markets is soft on growing fears of another coronavirus wave. The European markets were down and the U.S. bourses were mostly in the red and the Asian markets figure to open in similar fashion.

The STI finished modestly lower on Thursday following losses from the financial shares, property stocks and industrial issues.

For the day, the index dropped 16.84 points or 0.63 percent to finish at 2,652.65 after trading between 2,652.07 and 2,679.98. Volume was 2.6 billion shares worth 1.09 billion Singapore dollars.

Among the actives, CapitaLand Mall Trust plummeted 2.88 percent, while Hongkong Land Holdings plunged 2.42 percent, CapitaLand Commercial Trust tanked 2.22 percent, Yangzijiang Shipbuilding tumbled 1.56 percent, Singapore Press Holdings skidded 1.54 percent, Mapletree Commercial Trust retreated 1.51 percent, Ascendas REIT declined 1.21 percent, Keppel Corp surrendered 1.14 percent, Singapore Exchange spiked 1.09 percent, SembCorp Industries dropped 1.09 percent, Singapore Airlines sank 1.04 percent, Oversea-Chinese Banking Corporation shed 0.86 percent, Venture Corporation jumped 0.72 percent, Thai Beverage lost 0.70 percent, CapitaLand climbed 0.69 percent, Comfort DelGro fell 0.68 percent, Genting Singapore slid 0.65 percent, DBS Group dipped 0.64 percent, Singapore Technologies added 0.60 percent, Mapletree Logistics Trust slipped 0.49 percent, SingTel fell 0.40 percent, SATS sank 0.35 percent, Wilmar International rose 0.24 percent, City Development was down 0.23 percent and United Overseas Bank eased 0.14 percent.
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