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Rebound Anticipated For Singapore Stock Market

(RTTNews) - The Singapore stock market headed south again on Thursday, one day after snapping the six-day losing streak in which it had plummeted almost 200 points or 6.4 percent. The Straits Times Index now sits just above the 3,090-point plateau although it's expected to bounce higher again on Friday.

The global forecast for the Asian markets is cautiously optimistic, supported by bargain hunting and crude oil prices. 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 slightly lower on Thursday as losses from the properties and industrials were mitigated by support from the financial sector.

For the day, the index slipped 6.14 points or 0.20 percent to finish at 3,092.11 after trading between 3,065.91 and 3,100.55. Volume was 1.16 billion shares worth 1.3 billion Singapore dollars. There were 296 decliners and 181 gainers.

Among the actives, Ascendas REIT dropped 0.68 percent, while CapitaLand Integrated Commercial Trust tumbled 1.43 percent, City Developments plunged 1.74 percent, Comfort DelGro shed 0.72 percent, Dairy Farm International tanked 1.64 percent, DBS Group collected 0.54 percent, Genting Singapore plummeted 1.97 percent, Keppel Corp was down 0.39 percent, Mapletree Commercial Trust surrendered 0.98 percent, Oversea-Chinese Banking Corporation and United Overseas Bank both were up 0.27 percent, SATS and Yangzijiang Shipbuilding both retreated 0.78 percent, SembCorp Industries gained 0.52 percent, Singapore Airlines rose 0.41 percent, Singapore Exchange added 0.67 percent, Singapore Press Holdings and Venture Corporation both fell 0.43 percent, Singapore Technologies Engineering lost 0.53 percent, SingTel declined 0.83 percent, Thai Beverage skidded 0.75 percent, Wilmar International sank 0.73 percent and Mapletree Logistics Trust was unchanged.
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