Rally May Stall For Singapore Stock Market

(RTTNews) - The Singapore stock market has moved higher in two straight sessions, gathering almost 35 points or 1.4 percent along the way. The Straits Times Index now sits just above the 2,565-point plateau although it may run out of steam on Wednesday.

The global forecast for the Asian markets is soft on profit taking and on concerns for a COVID-19 vaccine. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The STI finished modestly higher on Tuesday as gains from the financials, properties and trusts were sapped by weakness from the industrials.

For the day, the index gained 15.23 points or 0.60 percent to finish at 2,567.65 after trading between 2,547.12 and 2,570.19. Volume was 1.43 billion shares worth 1.04 billion Singapore dollars. There were 223 gainers and 134 decliners.

Among the actives, Ascendas REIT surged 3.44 percent, while Mapletree Logistics Trust soared 2.91 percent, Mapletree Commercial Trust spiked 2.07 percent, Dairy Farm International plunged 1.57 percent, CapitaLand Mall Trust accelerated 1.55 percent, Singapore Exchange rallied 1.54 percent, SembCorp Industries tanked 1.46 percent, City Developments jumped 1.28 percent, Hongkong Land Holdings climbed 1.06 percent, Yangzijiang Shipbuilding tumbled 1.02 percent, DBS Group gathered 0.89 percent, Oversea-Chinese Banking Corporation perked 0.81 percent, Genting Singapore sank 0.72 percent, CapitaLand Commercial Trust advanced 0.60 percent, United Overseas Bank collected 0.56 percent, Singapore Technologies Engineering added 0.55 percent, CapitaLand gained 0.36 percent, SATS fell 0.32 percent, Singapore Airlines rose 0.28 percent, Keppel Corp dipped 0.22 percent and Wilmar International, Thai beverage, SingTel, Singapore Press Holdings and Comfort DelGro were unchanged.
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