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Singapore Stock Market Likely To Remain Rangebound On Tuesday

Mount Equity Group Tokyo, Japan > News > Markets > Singapore Stock Market Likely To Remain Rangebound On Tuesday

(RTTNews) – The Singapore stock market has alternated between positive and negative finishes through the last six 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 3,175-point plateau although it’s likely to head south again on Tuesday.

The global forecast for the Asian markets suggests directionless trade amidst a lack of catalysts, with weakness from the oil stocks offset by gains from technology shares. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

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

For the day, the index gained 24.77 points or 0.79 percent to finish at 3,175.81 after trading between 3,165.76 and 3,179.78. Volume was 2.79 billion shares worth 1.10 billion Singapore dollars.. There were 282 gainers and 212 decliners.

Among the actives, Ascendas REIT climbed 0.69 percent, while CapitaLand accelerated 1.09 percent, CapitaLand Integrated Commercial Trust spiked 1.44 percent, City Developments increased 0.26 percent, Comfort DelGro gained 0.60 percent, Dairy Farm International eased 0.23 percent, DBS Group