Continued Consolidation Expected For Singapore Bourse

By Rtt News Staff Writer4 days ago

The Singapore stock market has finished lower in three straight sessions, slipping more than 40 points or 1.4 percent along the way. The Straits Times Index now rests just beneath the 3,180-point plateau and it's tipped to open under pressure again on Wednesday.

The global forecast for the Asian markets is soft, with technology stocks and airlines expected to lead the way lower. The European markets were down and the U.S. bourses were mostly negative and the Asian markets are also tipped to open under pressure.

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The STI finished slightly lower on Tuesday following mixed performances from the financials, properties and industrials.

For the day, the index dipped 5.63 points or 0.18 percent to finish at 3,179.13 after trading between 3,168.56 and 3,186.00. Volume was 1.23 billion shares worth 1.18 billion Singapore dollars. There were 221 decliners and 214 gainers.

Among the actives, Ascendas REIT added 0.65 percent, while CapitaLand Integrated Commercial Trust and SembCorp Industries both shed 0.48 percent, City Developments gained 0.64 percent, Comfort DelGro dropped 0.59 percent, Dairy Farm International surged 1.86 percent, DBS Group sank 0.64 percent, Keppel Corp was up 0.19 percent, Mapletree Commercial Trust rallied 1.11 percent, Mapletree Logistics Trust advanced 1.02 percent, Oversea-Chinese Banking Corporation collected 0.66 percent, SATS tanked 0.99 percent, Singapore Airlines rose 0.40 percent, Singapore Exchange increased 0.29 percent, Singapore Press Holdings spiked 1.12 percent, Singapore Technologies Engineering fell 0.26 percent, SingTel lost 0.41 percent, Thai Beverage soared 1.41 percent, United Overseas Bank dipped 0.19 percent, Wilmar International improved 0.60 percent and Yangzijiang Shipbuilding, CapitaLand, Genting Singapore and Jardine Strategic Holdings were unchanged.

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