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Singapore Stock Market May Stop The Bleeding On Friday

(RTTNews) - The Singapore stock market has moved lower in two consecutive trading days, sinking more than 10 points or 0.3 percent along the way. The Straits Times Index now sits just beneath the 3,190-point plateau although it's expected to find support on Friday.

The global forecast for the Asian markets is mixed to higher with projected upbeat earnings news offset by sinking crude oil prices. The European markets were down and the U.S. bourses mostly higher and the Asian markets figure to follow the latter lead.

The STI finished slightly lower on Thursday following losses from the financial shares and industrial issues, while the properties were mixed.

For the day, the index shed 9.58 points or 0.30 percent to finish at 3,188.50 after trading between 3,183.10 and 3,206.78. Volume was 1.9 billion shares worth 964.14 billion Singapore dollars. There were 240 decliners and 236 gainers.

Among the actives, Ascendas REIT advanced 0.66 percent, while CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both added 0.47 percent, City Developments and Oversea-Chinese Banking Corporation both retreated 0.67 percent, Dairy Farm International tanked 1.10 percent, DBS Group lost 0.32 percent, Genting Singapore plunged 1.27 percent, Hongkong Land spiked 1.18 percent, Keppel Corp skidded 0.73 percent, Mapletree Logistics Trust dropped 0.50 percent, SembCorp Industries sank 0.51 percent, Singapore Airlines plummeted 2.60 percent, Singapore Exchange tumbled 0.93 percent, Singapore Technologies Engineering rose 0.26 percent, SingTel gained 0.39 percent, Thai Beverage jumped 0.71 percent, United Overseas Bank fell 0.19 percent, Wilmar International climbed 0.69 percent and Yangzijiang Shipbuilding, SATS, UOL Group, Singapore Press Holdings, Comfort DelGro and CapitaLand were unchanged.
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