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More Pain Predicted For Singapore Stock Market

(RTTNews) - The Singapore stock market has ticked lower in back-to-back sessions, sliding almost 15 points or 0.6 percent along the way. The Straits Times Index now rests just beneath the 2,545-point plateau and the losses may accelerate on Wednesday.

The global forecast for the Asian markets is mixed to lower, with oil and technology stocks expected to weigh heavily. The European markets were up and the U.S. bourses were down and the Asian markets are likely to follow the latter lead.

The STI finished barely lower on Tuesday as heavy losses from the industrials were tempered by support from the financials and properties.

For the day, the index eased 1.36 points or 0.05 percent to finish at 2,544.15 after trading between 2,522.80 and 2,559.76.

Among the actives, Keppel Corp plummeted 11.11 percent, while Venture Corporation skyrocketed 6.16 percent, Singapore Airlines soared 3.15 percent, Singapore Press Holdings surged 2.73 percent, SembCorp Industries plunged 2.63 percent, Wilmar International tanked 2.29 percent, SATS spiked 1.85 percent, City Developments accelerated 1.46 percent, Comfort DelGro jumped 1.45 percent, Dairy Farm International tumbled 1.38 percent, DBS Group climbed 1.21 percent, Mapletree Commercial Trust gathered 1.08 percent, Mapletree Logistics Trust perked 0.95 percent, Ascendas REIT skidded 0.87 percent, SingTel retreated 0.84 percent, Genting Singapore declined 0.74 percent, CapitaLand Commercial Trust advanced 0.53 percent, Yangzijiang Shipbuilding surrendered 0.52 percent, Oversea-Chinese Banking Corporation collected 0.46 percent, CapitaLand and United Overseas Bank both advanced 0.36 percent and Singapore Technologies Engineering, Thai Beverage and Singapore Exchange were unchanged.
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