Singapore Stock Market Poised To Open Under Water On Tuesday

(RTTNews) - The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

The lead from Wall Street suggests continued consolidation as the major averages opened lower on Monday and continued to weaken as the day progressed.

The Dow plummeted 890.01 points or 2.08 percent to finish at 41,911.71, while the NASDAQ crashed 727.90 points or 4.00 percent to close at 17,468.32 and the S&P 500 stumbled 155.64 points or 2.70 percent to end at 5,614.56.

The weakness on Wall Street came amidst rising concerns about the outlook for economic growth and corporate earnings after U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

With a slew of crucial economic data due later in the week, the mood in the market is extremely cautious. On tap are reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations.

Oil prices fell to six-month lows on Monday as worries about global economic growth and fears of a U.S. recession fueled demand concerns. West Texas Intermediate Crude oil futures settled lower by $1.01 or 1.5 percent at $66.03 a barrel, the lowest settlement since September 10, 2024.