Win Streak May End For Singapore Stock Market

(RTTNews) - The Singapore stock market has moved higher in four straight sessions, gathering more than 55 points or 1.5 percent in that span. The Straits Time Index now sits just above the 3,980-point plateau although it may run out of steam on Friday.

The global forecast for the Asian markets suggests mild downside ahead of key inflation data later in the day. The European and U.S. markets saw mild downside and the Asian bourses figure to follow that lead.

The STI finished modestly higher again on Thursday following gains from the financial shares and mixed performances from the property stocks and industrial issues.

For the day, the index added 17.86 points or 0.45 percent to finish at 3,981.57 after trading between 3,959.75 and 3,991.00.

Among the actives, CapitaLand Integrated Commercial Trust, Seatrium Limited and SembCorp Industries all shed 0.47 percent, while CapitaLand Investment climbed 0.73 percent, City Developments lost 0.40 percent, DBS Group collected 0.41 percent, DFI Retail Group surged 2/09 percent, Genting Singapore sank 0.66 percent, Hongkong Land rose 0.23 percent, Keppel Ltd and SingTel both added 0.29 percent, Mapletree Pan Asia Commercial Trust dropped 0.79 percent, Oversea-Chinese Banking Corporation rallied 0.75 percent, SATS and Venture Corporation both fell 0.32 percent, Singapore Technologies Engineering spiked 0.90 percent, Yangzijiang Financial soared 1.29 percent, Yangzijiang Shipbuilding slumped 0.83 percent and Mapletree Industrial Trust, Mapletree Logistics Trust, Thai Beverage, Wilmar International, Comfort DelGro, Emperador, Keppel DC REIT and Frasers Logistics & Commercial Trust were unchanged.

The lead from Wall Street is weak as the major averages opened lower on Thursday and bounced back and forth across the line before finishing modestly lower.

The Dow dropped 155.09 points or 0.37 percent to finish at 42,299.70, while the NASDAQ slumped 94.98 points or 0.53 percent to close at 17,804.03 and the S&P 500 sank 18.89 points or 0.33 percent to end at 5,693.31.

The lower close on Wall Street came amid ongoing concerns about President Donald Trump's trade policies after he announced plans to impose 25 percent tariffs on auto imports.

Traders may also have been reluctant to make significant moves ahead of the release of the Federal Reserve's preferred readings on consumer price inflation later today.

On the U.S. economic front, the Commerce Department said the economy grew slightly faster than estimated in the fourth quarter of 2024. Also, the National Association of Realtors said pending home sales saw a significant rebound in February after plunging to an all-time low in January.

Oil prices moved higher Thursday on supply concerns after data showed a sharp drop in U.S. crude oil inventories last week. West Texas Intermediate Crude oil futures for May closed up $0.19 or about 0.27 percent at $69.84 a barrel.