Win Streak May Continue For Singapore Shares

(RTTNews) - The Singapore stock market has moved higher in consecutive trading days, gathering almost 30 points or 0.8 percent in that span. The Straits Time Index now sits just above the 3,950-point plateau and it may see additional support on Wednesday.

The global forecast for the Asian markets suggests mild upside, supported by oil companies and technology stocks. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The STI finished modestly higher on Tuesday following gains from the financial shares and property stocks, while the industrials were mixed.

For the day, the index added 18.20 points or 0.46 percent to finish at 3,954.53 after trading between 3,946.59 and 3,985.72.

Among the actives, CapitaLand Integrated Commercial Trust and Mapletree Industrial Trust both skidded 0.47 percent, while CapitaLand Investment climbed 0.74 percent, Comfort DelGro advanced 0.68 percent, DBS Group spiked 1.23 percent, DFI Retail rallied 0.85 percent, Genting Singapore tumbled 1.32 percent, Hongkong Land rose 0.23 percent, Keppel DC REIT and Seatrium Limited both dropped 0.46 percent, Keppel Ltd and SingTel both gained 0.29 percent, Oversea-Chinese Banking Corporation collected 0.76 percent, SATS shed 0.33 percent, SembCorp Industries added 0.32 percent, Singapore Technologies Engineering slumped 0.61 percent, Thai Beverage retreated 1.92 percent, Venture Corporation stumbled 2.20 percent, Wilmar International fell 0.30 percent, Yangzijiang Financial surged 4.76 percent, Yangzijiang Shipbuilding soared 1.25 percent and City Developments, Mapletree Pan Asia Commercial Trust, Emperador, Mapletree Logistics Trust and Frasers Centrepoint Trust were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages hugged both sides of the line on Tuesday before a late push bumped them into the green at the close.

The Dow added 4.18 points or 0.01 percent to finish at 42,587.50, while the NASDAQ climbed 83.26 points or 0.46 percent to close at 18,271.86 and the S&P 500 rose 9.08 points or 0.16 percent to end at 5,776.65.

The choppy trading on Wall Street came amid ongoing uncertainty about President Donald Trump's tariff plans following recent reports he plans to take a more narrow approach to new tariffs.

Trump has recently made many conflicting remarks about his tariff plans, leading to considerable uncertainty on Wall Street.

Meanwhile, traders largely shrugged off a report from the Conference Board showing consumer confidence in the U.S. deteriorated by more than expected in the month of March.

Oil prices dipped on Tuesday on reports Russia and Ukraine have agreed to a partial ceasefire covering the Black Sea. West Texas Intermediate Crude oil futures for May closed lower by $0.11 at $69.00 a barrel.

Closer to home, Singapore will provide February numbers for industrial production later today; in January, industrial production was up 4.5 percent on month and 9.1 percent on year.