The Singapore stock market may see a mild recovery on Monday after ending its six-day winning streak last Friday.

The Straits Times Index (STI), which had gained over 110 points or 3% during the winning streak, closed at a low of 3,796.16, down 26.52 points or 0.69%. Declines were seen across various sectors, with SingTel dropping 2.88%, Comfort DelGro tumbling 2%, and DBS Group retreating 1.31%. Yangzijiang Shipbuilding and Hongkong Land were among the notable gainers, rising 1.89% and 0.85%, respectively.

Global market sentiment remains optimistic, with hopes pinned on potential interest rate cuts by the US Federal Reserve. The latest US labour report showed a significant employment surge in November but also a slight increase in the unemployment rate to 4.2%, strengthening the case for a 25-basis-point rate cut later this month.

West Texas Intermediate crude futures fell by 1.61% to US$67.20 per barrel on Friday, driven by concerns over market oversupply. With global cues being flat to slightly positive, the STI may stabilise and aim for modest gains in the coming session.

RTTNews