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Rally May Stall For Singapore Stock Market

(RTTNews) - The Singapore stock market has finished higher in three straight sessions, advancing more than 75 points or 2.8 percent along the way. The Straits Times Index now rests just beneath the 2,790-point plateau although it's likely to run out of steam on Thursday.

The global forecast for the Asian markets is soft, with optimism for a Covid-19 vaccine giving way to concerns about the surging virus. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The STI finished modestly higher on Wednesday following gains from the properties and mixed performances from the financials and industrials.

For the day, the index gained 10.04 points or 0.36 percent to finish at 2,788.59 after trading between 2,774.78 and 2,795.67. Volume was 2.1 billion shares worth 1.56 billion Singapore dollars. There were 243 gainers and 199 decliners.

Among the actives, CapitaLand surged 2.39 percent, while City Developments soared 1.88 percent, Genting Singapore spiked 1.83 percent, Yangzijiang Shipbuilding plunged 1.61 percent, Ascendas REIT accelerated 1.35 percent, United Overseas Bank rallied 1.27 percent, Oversea-Chinese Banking Corporation jumped 1.12 percent, Singapore Technologies Engineering climbed 1.05 percent, CapitaLand Integrated Commercial Trust and Singapore Airlines both gathered 0.99 percent, Singapore Press Holdings perked 0.96 percent, Keppel Corp and Venture Corporation both advanced 0.79 percent, Thai Beverage dropped 0.71 percent, SembCorp Industries added 0.59 percent, Singapore Exchange gained 0.55 percent, Mapletree Logistics Trust rose 0.50 percent, Mapletree Commercial Trust increased 0.49 percent, Dairy Farm International lost 0.44 percent, DBS Group dipped 0.08 percent and Wilmar International, SATS, SingTel, CapitaLand Commercial Trust and Comfort DelGro were unchanged.
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