Singapore Stock Market Tipped To Open In The Green

(RTTNews) - The Singapore stock market bounced higher again on Tuesday, one day after ending the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just beneath the 3,760-point plateau and it may see additional support on Wednesday.

The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.

The STI finished modestly higher on Tuesday as gains from the industrials, properties and financials were capped by weakness from the REITs.

For the day, the index gained 25.42 points or 0.68 percent to finish at 3,757.97 after trading between 3,738.42 and 3,766.93.

Among the actives, CapitaLand Integrated Commercial Trust lost 0.51 percent, while CapitaLand Investment improved 0.72 percent, City Developments added 0.78 percent, DBS Group collected 0.40 percent, Emperador tumbled 1.19 percent, Genting Singapore sank 0.65 percent, Hongkong Land climbed 1.53 percent, Keppel Ltd accelerated 2.13 percent, Mapletree Pan Asia Commercial Trust skidded 0.81 percent, Mapletree Industrial Trust slumped 0.87 percent, Mapletree Logistics Trust dropped 0.79 percent, Oversea-Chinese Banking Corporation gained 0.24 percent, SATS spiked 2.94 percent, Seatrium Limited surged 3.80 percent, SembCorp Industries strengthened 2.77 percent, Singapore Technologies Engineering rallied 2.92 percent, SingTel jumped 2.87 percent, Yangzijiang Financial advanced 1.24 percent, Yangzijiang Shipbuilding soared 3.57 percent and Thai Beverage, Wilmar International, Keppel DC REIT and Comfort DelGro were unchanged.

The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and S&P 500 managed to finish in the green.

The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the S&P added 23.36 points or 0.40 percent to end at 5,916.98.

The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.

After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.

Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.

Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.