Singapore Stock Exchange is expected to open in the green
(RTTNews) – Singapore’s stock market rebounded higher on Tuesday, a session after ending a three-day winning streak in which it had collected nearly 65 points or 2%. The Straits Times Index now sits just below the 3,200 point plateau and is expected to see further support on Wednesday.
Global forecasts for Asian markets are optimistic, supported by strong earnings expectations and rising crude oil prices. European markets were mixed and US stock markets were up and Asian markets were counting to divide the difference.
The STI ended slightly higher on Tuesday following gains in financial stocks and mixed performance by financials and industrials.
For the day, the index gained 25.19 points or 0.79% to end at 3,199.01 after trading between 3,185.39 and 3,205.64. The volume was 1.83 billion shares worth S $ 1.25 billion. There were 286 winners and 216 decline.
Among assets, CapitaLand Integrated Commercial Trust jumped 0.95%, while City Developments and Singapore Airlines both lost 0.54%, Comfort DelGro fell 1.27%, Dairy Farm International jumped 3, 99%, DBS Group rose 2.43%, Genting Singapore rose 0.63%, Mapletree Logistics Trust fell 0.50%, Oversea-Chinese Banking Corporation rose 0.59%, SembCorp Industries accelerated 1.03%, Singapore Exchange climbed 1.05%, Singapore Press Holdings increased 0.50%, Singapore Technologies Engineering gained 0.52%, United Overseas Bank collected 0.64%, Wilmar International climbed 0.91%, Yangzijiang Shipbuilding sank 0.71% and Keppel Corp, Mapletree Commercial Trust, Ascendas REIT, CapitaLand, SingTel, Thai Beverage and SATS remained unchanged.
Wall Street’s lead is generally positive as major averages opened higher on Tuesday and remained solidly in the green throughout the session.
The Dow Jones climbed 198.70 points or 0.56% to close at 35,457.31, while the NASDAQ jumped 107.28 points or 0.71% to close at 15,129.09 and the S&P 500 gained 33.17 points or 0.74% to finish at 4,519.63.
Upbeat earnings news from insurance giant Travelers Companies Inc. (TRV), Johnson & Johnson (JNJ), Procter & Gamble (PG) and Netflix (NFLX) boosted morale.
Economically, the Commerce Department noted an unexpected drop in new residential construction in the United States in September.
Crude oil prices rose on Tuesday amid rising demand for fuel oil and diesel fuel due to a severe energy crisis in China and several parts of Europe. West Texas Intermediate crude oil futures for November ended up $ 0.52 or 0.6% at $ 82.96 a barrel.
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