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Singapore Shares Expected To Be Rangebound On Thursday

(RTTNews) - The Singapore stock market on Wednesday ended the two-day losing streak in which it had slipped more than 15 points or 0.5 percent. The Straits Times Index now sits just above the 2,975-point plateau and they're likely to see little movement again on Thursday.

The global forecast for the Asian markets is murky, with upside limited by political uncertainty and falling oil prices. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow that lead.

The STI finished barely higher on Wednesday as gains from the financials were offset by weakness from the properties.

For the day, the index rose 0.34 points or 0.01 percent to finish at the daily high of 2,977.51 after moving as low as 2,977.51. Volume was 2.5 billion shares worth 1.55 billion Singapore dollars.

Among the actives, Jardine Cycle surged 3.26 percent, while Thai beverage plummeted 3.14 percent, Singapore Airlines soared 2.59 percent, Hongkong Land spiked 2.48 percent, Singapore Press Holdings accelerated 1.69 percent, Mapletree Logistics Trust plunged 1.48 percent, CapitaLand tanked 1.43 percent, CapitaLand Integrated Commercial Trust tumbled 1.33 percent, Ascendas REIT skidded 1.31 percent, SingTel rallied 1.22 percent, Yangzijiang Shipbuilding jumped 0.93 percent, Oversea-Chinese Banking Corporation climbed 0.76 percent, SATS sank 0.74 percent, Keppel Corp advanced 0.71 percent, City Developments dropped 0.68 percent, Dairy Farm International added 0.68 percent, Wilmar International shed 0.59 percent, SembCorp Industries gained 0.54 percent, United Overseas Bank collected 0.51 percent, Mapletree Commercial Trust lost 0.46 percent, Singapore Exchange rose 0.30 percent, Singapore Technologies slid 0.26 percent, DBS Group was up 0.11 percent and Genting Singapore, CapitaLand Commercial Trust and Comfort DelGro were unchanged.
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