Singapore Stock Market Due For Support

(RTTNews) - The Singapore stock market has moved lower in three straight sessions, slumping more than 20 points or 0.6 percent in that span. The Straits Times Index now sits just above the 3,810-point plateau although it may stop the bleeding on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index slipped 11.98 points or 0.31 percent to finish at 3,811.80 after trading between 3,797.17 and 3,821.68. Among the actives, CapitaLand Integrated Commercial Trust rallied 1.40 percent, while CapitaLand Investment added 0.75 percent, City Developments sank 0.80 percent, Comfort DelGro shed 0.65 percent, DBS Group dipped 0.12 percent, Hongkong Land jumped 1.29 percent, Keppel DC REIT gained 0.48 percent, Keppel Ltd plunged 2.56 percent, Mapletree Pan Asia Commercial Trust dropped 0.82 percent, Oversea-Chinese Banking Corporation lost 0.44 percent, Seatrium Limited slumped 1.02 percent, Singapore Technologies Engineering spiked 1.66 percent, SingTel advanced 0.80 percent, Thai Beverage climbed 0.98 percent, Wilmar International rose 0.32 percent, Yangzijiang Financial collected 0.71 percent, Yangzijiang Shipbuilding soared 2.27 percent and Emperador, Genting Singapore, Mapletree Industrial Trust, Mapletree Logistics Trust, SembCorp Industries, SATS, DFI Retail Group and Frasers Centrepoint Trust were unchanged. The lead from Wall Street suggests little movement as the major averages opened higher on Monday, slumped mid-session but rallied to finish mixed and little changed.

The Dow advanced 114.09 points or 0.28 percent to finish at 40,227.59, while the NASDAQ eased 16.81 points or 0.10 percent to close at 17,366.13 and the S&P 500 perked 3.54 points or 0.06 percent to end at 5,528.75.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves as they look ahead to the release of key earnings and economic news in the coming days.

Quarterly results are due from the likes of Amazon (AMZN), Apple (AAPL), Meta Platforms (META) and Microsoft (MSFT), Coca-Cola (KO), Visa (V), Eli Lilly (LLY), Chevron (CVX) and Exxon Mobil (XOM).

The Labor Department's monthly jobs report is also likely to be in focus later this week along with the Federal Reserve's preferred readings on consumer price inflation.

Crude oil prices continued to slump on concerns over tariff threats and their likely impact on the global economy. West Texas Intermediate crude for June delivery was down $115 or 1.82 percent to $61.87 per barrel. Closer to home, Singapore will release Q1 numbers for unemployment later today; in the three months prior, the jobless rate was 1.9 percent.