Singapore Bourse Tipped To Open To The Upside On Tuesday

(RTTNews) - The Singapore stock market on Monday wrote a finish to the three-day slide in which it had slipped more than 35 points or 0.8 percent. The Straits Times Index now sits just beneath the 4,270-point plateau and it may see additional support on Tuesday.

The global forecast for the Asian markets is cautiously optimistic, with support from technology shares likely offset by weakness from the oil companies. The European and U.S. markets saw mild upside and the Asian bourses are expected to open in similar fashion.

The STI finished slightly higher on Monday following mixed performances from the financial shares, property stocks and industrial issues.

For the day, the index perked 4.00 points or 0.09 percent to finish at 4,269.98 after trading between 4,264.99 and 4,279.07.

Among the actives, CapitaLand Ascendas REIT rose 0.36 percent, while CapitaLand Integrated Commercial Trust jumped 0.88 percent, CapitaLand Investment gained 0.37 percent, City Developments improved 0.59 percent, Comfort DelGro sank 0.68 percent, DBS Group collected 0.24 percent, DFI Retail Group spiked 1.90 percent, Genting Singapore advanced 0.68 percent, Hongkong Land soared 1.92 percent, Keppel DC REIT added 0.42 percent, Keppel Ltd gathered 0.23 percent, Mapletree Pan Asia Commercial Trust climbed 0.71 percent, Mapletree Logistics Trust strengthened 0.81 percent, Oversea-Chinese Banking Corporation increased 0.55 percent, SATS accelerated 1.19 percent, Seatrium Limited slumped 0.84 percent, SembCorp Industries and United Overseas Bank both perked 0.17 percent, Singapore Technologies Engineering surged 2.72 percent, SingTel plummeted 3.29 percent, Thai Beverage rallied 1.09 percent, UOL Group shed 0.38 percent, Yangzijiang Financial dropped 0.85 percent, Yangzijiang Shipbuilding stumbled 1.52 percent and Mapletree Industrial Trust, Wilmar International and Frasers Centrepoint Trust were unchanged.

The lead from Wall Street is mildly positive as the major averages opened mixed on Monday but eventually managed to finish with modest gains.

The Dow added 68.78 points or 0.15 percent to finish at 46,316.07, while the NASDAQ gained 107.09 points or 0.48 percent to end at 22,591.15 and the S&P 500 rose 17.51 points or 0.26 percent to close at 6,661.21 percent.

The upswing on Wall Street reflected strength among technology stocks, with AI darling and market leader Nvidia (NVDA) jumping 2.1 percent and video game maker Electronic Arts (EA) surging 4.5 percent.

However, traders seemed reluctant to make more significant moves amid concerns about a potential U.S. government shutdown ahead of a deadline later today.

Traders were also looking ahead to the release of the Labor Department's closely watched monthly jobs report on Friday, which could impact the outlook for interest rates. But the data could be delayed if the government shuts down.

Crude oil prices tumbled on Monday in the wake of oversupply concerns thanks to OPEC's plans for increasing output. West Texas Intermediate crude for November delivery was down $2.50 or 3.80 percent at $63.22 per barrel.