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Singapore Shares Expected To Remain Rangebound

Mount Equity Group Tokyo, Japan > News > Markets > Singapore Shares Expected To Remain Rangebound

(RTTNews) – The Singapore stock market has alternated between positive and negative finishes through the last four trading days since the end of the six-day winning streak in which it had jumped almost 75 points or 2.4 percent. The Straits Times Index now rests just above the 3,165-point plateau although it’s expected to head south again on Friday.

The global forecast for the Asian markets is mixed to lower ahead of key U.S. jobs data later today, and the effect it may have on interest rates. The European markets were mixed and the U.S. bourses were down and the Asian market figure to split the difference.

The STI finished slightly higher on Thursday following gains from the industrials and a mixed picture from the financial sector.

For the day, the index rose 3.96 points or 0.13 percent to finish at 3,165.00 after trading between 3,159.60 and 3,177.10. Volume was 2.45 billion shares worth 1.15 billion Singapore dollars. There were 282 gainers and 223 decliners.

Among the actives, Ascendas REIT rose 0.34 percent, while CapitaLand Integrated Commercial Trust and Singapore Exchange both added 0.48 percent, City Developments soared 1.56 percent, Comfort DelGro sank 0.60 percent, Dairy Farm International surged 2.06 percent,