Singapore Bourse May Crack Resistance At 2,500 Points

(RTTNews) - The Singapore stock market has climbed higher in two consecutive trading days, collecting more than 30 points or 1.3 percent along the way. The Straits Times Index now sits just above the 2,480-point plateau and it's looking at another green light for Tuesday's trade.

The global forecast for the Asian markets is upbeat, with further bargain hunting expected amidst rising oil prices. The European and U.S. markets were sharply higher and the Asian bourses are tipped to also open in the green.

The STI finished modestly higher on Monday as gains from the financial shares and industrials were capped by weakness from the property sector.

For the day, the index advanced 10.73 points or 0.43 percent to finish at 2,483.01 after trading between 2,471.07 and 2,494.16. Volume was 915.2 million shares worth 868 million Singapore dollars. There were 197 decliners and 195 gainers.

Among the actives, Singapore Exchange surged 2.22 percent, while Keppel Corp soared 2.20 percent, Thai Beverage spiked 1.71 percent, Yangzijiang Shipbuilding accelerated 1.53 percent, Mapletree Logistics jumped 1.47 percent, Dairy Farm plunged 1.41 percent, CapitaLand Commercial Trust tumbled 1.17 percent, DBS Group climbed 1.05 percent, Singapore Press Holdings gathered 0.96 percent, United Overseas Bank perked 0.94 percent, SingTel skidded 0.93 percent, SembCorp Industries retreated 0.76 percent, Genting Singapore advanced 0.74 percent, Oversea-Chinese Banking Corporation collected 0.71 percent, Comfort DelGro added 0.69 percent, City Developments declined 0.64 percent, Singapore Airlines gained 0.59 percent, Singapore Technologies Engineering rose 0.58 percent, Mapletree Commercial Trust increased 0.50 percent, CapitaLand lost 0.37 percent, SATS rallied 0.36 percent, Ascendas REIT fell 0.31 percent, Wilmar International was up 0.23 percent and CapitaLand Mall Trust was unchanged.
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