Renewed Support Tipped For Singapore Stock Market

(RTTNews) - The Singapore stock market on Thursday halted the three-day winning streak in which it had advanced more than 75 points or 2.8 percent. The Straits Times Index now rests just beneath the 2,780-point plateau although it may bounce higher again on Friday.

The global forecast for the Asian markets is cautiously optimistic, with technology stocks expected to push markets into the green. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The STI finished modestly lower on Thursday following losses from the properties and mixed performances from the financials and industrials.

For the day, the index slipped 11.59 points or 0.42 percent to finish at 2,777.00 after trading between 2,766.55 and 2,795.06. Volume was 1.76 billion shares worth 1.61 billion Singapore dollars. There were 212 decliners and 210 gainers.

Among the actives, Thai Beverage surged 4.29 percent, while Dairy Farm International plummeted 4.19 percent, CapitaLand Integrated Commercial Trust plunged 2.94 percent, Mapletree Commercial Trust tanked 1.96 percent, Hongkong Land Holdings tumbled 1.86 percent, Singapore Technologies Engineering spiked 1.82 percent, Genting Singapore skidded 1.80 percent, SingTel accelerated 1.70 percent, Ascendas REIT retreated 1.33 percent, Oversea-Chinese Banking Corporation declined 1.11 percent, Mapletree Logistics Trust surrendered 1.00 percent, Keppel Corp and Singapore Airlines both sank 0.98 percent, Wilmar international dropped 0.93 percent, DBS Group shed 0.85 percent, CapitaLand lost 0.67 percent, Comfort DelGro fell 0.62 percent, SembCorp Industries slid 0.59 percent, Yangzijiang Shipbuilding added 0.55 percent, SATS gained 0.49 percent, United Overseas Bank collected 0.40 percent, Singapore Exchange dipped 0.22 percent and City Developments, CapitaLand Commercial Trust and Singapore Press Holdings were unchanged.
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