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Singapore Stock Market May Spin Its Wheels On Wednesday

Mount Equity Group Tokyo, Japan > News > Markets > Singapore Stock Market May Spin Its Wheels On Wednesday

(RTTNews) – The Singapore stock market has alternated between positive and negative finishes through the last seven 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 and now it’s expected to see little movement on Wednesday.

The global forecast for the Asian markets offers little guidance on a lack of catalysts. The European and U.S. markets were mixed and little changed and the Asian bourses are expected to open in similar fashion.

The STI finished modestly lower on Tuesday following losses from the properties and mixed performances from the financials.

For the day, the index shed 8.67 points or 0.27 percent to finish at 3,167.14 after trading between 3,157.32 and 3,181.36. Volume was 2.54 billion shares worth 1.18 billion Singapore dollars. There were 253 decliners and 247 gainers.

Among the actives, Ascendas REIT fell 0.34 percent, while CapitaLand Integrated Commercial Trust lost 0.47 percent, City Developments sank 0.52 percent, Comfort DelGro declined 0.60 percent, Dairy Farm International retreated 0.68 percent, DBS Group skidded 1.02 percent, Keppel Corp tumbled 1.12 percent, Mapletree Logistics Trust advanced 0.50 percent, Oversea-Chinese