Additional support expected for Singapore stock market

(RTTNews) – Singapore’s stock market has climbed in four straight sessions, rising more than 95 points or 3.2% along the way. The Straits Times Index now sits just above the 3,330-point plateau and is expected to extend its gains on Monday.

The global forecast for Asian markets suggests a higher open, although last week’s relief rally appears to be waning with the tech and oil stock numbers to provide support. European and American markets were up and Asian stock exchanges should follow suit.

The STI ended slightly higher on Friday after property and industrial gains, while financials were mixed.

For the day, the index rose 7.92 points or 0.24% to end at 3,330.63 after trading between 3,313.87 and 3,346.37. The volume was 1.85 billion shares worth S$2.24 billion. There were 288 winners and 179 decliners.

Among assets, Ascendas REIT gained 1.05%, while CapitaLand Integrated Commercial Trust and Jardine Matheson both gained 0.92%, City Developments improved 0.54%, Comfort DelGro lost 0. .70%, Dairy Farm International gained 0.42%, DBS Group gained 0.12%, Genting Singapore added 0.65%, Hongkong Land strengthened 1.22%, Keppel Corp jumped 3.88% , Mapletree Commercial Trust rose 0.53%, Mapletree Logistics Trust gained 0.55%, Oversea-Chinese Banking Corporation fell 0.91%, SATS slipped 0.75%, SembCorp Industries climbed 1 .54%, Singapore Airlines fell 0.77%, Singapore Exchange rose 0.52%, Singapore Press Holdings lost 0.43%, Singapore Technologies Engineering climbed 0.99%, SingTel fell 0 .39%, Thai Beverage sank 0.72%, United Overseas Bank fell 0.09%, Wilmar International gained 0.22% and Yangzijiang Shipbuilding soared 2.22 percent.

Wall Street’s lead is positive as the leading average shrugged off early weakness on Friday to end well in the green.

The Dow Jones jumped 274.13 points or 0.80% to end at 34,754.93, while the NASDAQ jumped 279.04 points or 2.05% to end at 13,893.84 and the S&P 500 climbed 51.45 points or 1.17% to close at 4,463.12. For the week, the NASDAQ jumped 8.1%, the Dow Jones 5.4% and the S&P 5.5%.

Markets continued to benefit from recent bullish momentum, with major averages recovering from the selloff sparked by Russia’s invasion of Ukraine, although ongoing peace talks have so far been unsuccessful. to a breakthrough.

President Joe Biden spoke to Chinese President Xi Jinping on Friday about the dispute, with the White House saying Biden outlined the implications and consequences if China provided material support to Russia.

In US economic news, the National Association of Realtors noted a sharp decline in US existing home sales in February. Additionally, the Conference Board’s leading economic index in the United States rose more than expected last month.

Crude oil futures traded sharply higher on Friday but still posted a weekly loss on worries about the outlook for energy demand and recent data showing rising crude inventories in the US. United States. West Texas Intermediate crude oil futures for April ended up $1.72 or 1.7% at $104.70 a barrel. WTI crude oil futures lost more than 3% during the week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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