Additional Support Anticipated For Singapore Stock Market

(RTTNews) - The Singapore stock market has climbed higher in three straight sessions, advancing more than 70 points or 2.9 percent along the way. The Straits Times Index now rests just beneath the 2,560-point plateau and it may extend its gains on Friday.

The global forecast for the Asian markets is upbeat, thanks to support from technology stocks and decent economic data. The European markets were down and the U.S. bourses were up and the Asian markets are expected to follow the latter lead.

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

For the day, the index climbed 26.41 points or 1.04 percent to finish at 2,559.10 after trading between 2,548.19 and 2,566.70. Volume was 1.63 billion shares worth 1.32 billion Singapore dollars. There were 238 gainers and 193 decliners.

Among the actives, Yangzijiang Shipbuilding surged 3.74 percent, while DBS Group soared 2.87 percent, Singapore Airlines spiked 2.32 percent, Oversea-Chinese Banking Corporation accelerated 1.85 percent, United Overseas Bank collected 1.75 percent, Mapletree Commercial Trust tumbled 1.58 percent, Keppel Corp jumped 1.50 percent, Hongkong Land Holdings skidded 1.34 percent, Singapore Exchange climbed 1.14 percent, SATS sank 1.09 percent, City Developments dropped 1.08 percent, Singapore Press Holdings shed 0.89 percent, Thai Beverage lost 0.79 percent, Comfort DelGro advanced 0.72 percent, CapitaLand Commercial Trust added 0.62 percent, SembCorp Industries gained 0.55 percent, Mapletree Logistics Trust fell 0.47 percent, Wilmar International slid 0.42 percent, Singapore Technologies Engineering eased 0.31 percent and Genting Singapore, CapitaLand Mall Trust, Ascendas REIT, SingTel and CapitaLand all were unchanged.
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