Losing Streak May Continue For Singapore Stock Market

(RTTNews) - The Singapore stock market has tracked lower in three straight sessions, sinking almost 100 points or 2.5 percent along the way. The Straits Time Index now sits just above the 3,825-point plateau and it may open under water again on Wednesday.

The global forecast for the Asian markets remains negative on concerns over tariff and on the health of the world's economy. The European and U.S. markets were down again and the Asian bourses are expected to open in similar fashion.

The STI finished sharply lower on Tuesday following losses from the financials, properties and industrials, although the REITs offered a bit of traction.

For the day, the index tumbled 73.24 points or 1.88 percent to finish at 3,825.83 after trading between 3,806.53 and 3,852.08.

Among the actives, CapitaLand Integrated Commercial Trust jumped 1.00 percent, while CapitaLand Investment sank 0.78 percent, City Developments dropped 0.80 percent, Comfort DelGro shed 0.69 percent, DBS Group plummeted 3.53 percent, Frasers Centrepoint Trust rallied 2.90 percent, Keppel DC REIT and Thai Beverage both slumped 0.97 percent, Keppel Ltd stumbled 1.63 percent, Mapletree Pan Asia Commercial Trust added 0.84 percent, Mapletree Industrial Trust advanced 0.99 percent, Mapletree Logistics Trust gained 0.81 percent, Oversea-Chinese Banking Corporation tanked 2.11 percent, SATS retreated 1.29 percent, Seatrium Limited tumbled 1.41 percent, SembCorp Industries plunged 2.25 percent, Singapore Technologies Engineering rose 0.50 percent, SingTel surrendered 1.79 percent, Wilmar International skidded 0.92 percent, Yangzijiang Financial collected 0.78 percent, Yangzijiang Shipbuilding declined 1.26 percent and Emperador, Genting Singapore and Hongkong Land were unchanged.

The lead from Wall Street remains soft as the major averages opened mixed but trended generally lower throughout the day before ending in the red.

The Dow tumbled 478.23 points or 1.14 percent to finish at 41,433.48, while the NASDAQ shed 32.23 points or 0.18 percent to close at 17,436.10 and the S&P 500 sank 42.49 points or 0.76 percent to end at 5,572.07.

Stocks tumbled as trade war concerns have escalated with the U.S. and Canada slapping tariffs on each other's goods.

Markets now await U.S. reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations this week for further direction.

Oil prices climbed higher on Tuesday, bouncing back fairly well on a weaker dollar after dropping to six-month lows in the previous session. West Texas Intermediate Crude oil futures for April added $0.22 or 0.3 percent at $66.25 a barrel.