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Singapore Stocks Poised For Recovery Amid Bargain Hunting Opportunities

Business Today ·  Jan 14 00:07

The Singapore stock market has faced three consecutive losing sessions, shedding more than 95 points or 2.5% in total. The Straits Times Index (STI) now hovers just above the 3,790 mark, with support expected to emerge in the next session.

Monday's trading saw the STI slip by 9.86 points or 0.26% to close at 3,791.70, moving within a range of 3,775.00 to 3,796.74. Losses were observed across financials, property stocks, REITs, and industrials.

Among active counters, CapitaLand Investment fell 0.81%, City Developments slid 0.59%, ComfortDelGro declined 0.69%, and DBS Group eased 0.14%. Genting Singapore and Keppel DC REIT each dropped 2.67%, Mapletree Industrial Trust lost 0.89%, and Oversea-Chinese Banking Corporation slipped 0.76%.

Meanwhile, SembCorp Industries edged up 0.92%, SingTel rose 1.63%, and other stocks such as Thai Beverage, Yangzijiang Shipbuilding, and SATS posted declines of 2.73%, 1.67%, and 0.83%, respectively. Several stocks, including Mapletree Logistics Trust and CapitaLand Integrated Commercial Trust, ended unchanged.

The broader market's outlook remains mixed, influenced by global cues. While oil companies may offer some support, tech sector weakness and concerns over interest rates could weigh on sentiment.

Traders are also keeping an eye on developments in oil prices, which rose sharply to a five-month high following US sanctions on Russia's exports.

The STI is poised for bargain hunting, but investors remain cautious as global factors continue to shape market trends.

RTTNews

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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