The Singapore stock market, represented by the Straits Times Index (STI), is poised to hand back its Thursday gains as the global market sentiment turns bearish. On Thursday, the STI closed higher for the second time in three trading days, adding 16.45 points or 0.43% to settle at 3,809.27, with trading between 3,785.36 and 3,812.36.
Key movers included:
City Developments: Down 0.19%
DBS Group: Up 0.27%
Emperador: Gained 1.20%
Genting Singapore: Rose 0.65%
Hongkong Land: Advanced 1.09%
Keppel Ltd: Spiked 1.47%
SATS: Tumbled 1.61%
Meanwhile, Wall Street's weakness overnight is likely to influence Friday's trading. The Dow fell 234.44 points (0.64%) to 43,914.12, the NASDAQ dropped 132.05 points (0.66%) to 19,769.84, and the S&P 500 shed 32.94 points (0.54%) to 6,051.25.
Factors impacting sentiment include a report showing higher-than-expected US producer price increases, raising concerns about the Federal Reserve's rate-cutting pace, alongside a bearish forecast for oil markets.
West Texas Intermediate crude futures dropped by US$0.27 to US$70.02 per barrel, following three days of gains.
The STI is expected to open lower on Friday, with downside risks driven by soft global cues.
RTTNews
