Additional Support Expected For Singapore Shares

(RTTNews) - The Singapore stock market has finished higher in consecutive trading days, gathering more than 80 points or 1.6 percent along the way. The Straits Times Index now sits just beneath the 5,250-point plateau and it may extend its gains on Monday.

The global forecast for the Asian markets is flat to higher on easing Middle East tensions and hopes that the Federal Reserve will not tighten its monetary policy for now. The European markets were up and the U.S. bourses were closed for Independence Day, and the Asian markets are expected to tick higher as well.

The STI finished modestly higher on Friday following gains from the financial shares, property stocks and industrial issues.

For the day, the index added 27.14 points or 0.52 percent to finish at 5,244.29 after trading between 5,197.02 and 5,244.29.

Among the actives, CapitaLand Ascendas REIT and CapitaLand Investment both gained 0.40 percent, while CapitaLand Integrated Commercial Trust and United Overseas Bank both added 0.42 percent, City Developments soared 2.86 percent, DBS Group collected 0.50 percent, DFI Retail Group and Mapletree Logistics Trust both strengthened 0.83 percent, Genting Singapore vaulted 0.82 percent, Hongkong Land accelerated 2.11 percent, Keppel Ltd shed 0.37 percent, Mapletree Pan Asia Commercial Trust elevated 0.78 percent, Mapletree Industrial Trust rallied 1.04 percent, Oversea-Chinese Banking Corporation jumped 0.92 percent, SATS sank 0.89 percent, SembCorp Industries plummeted 3.39 percent, Singapore Airlines tumbled 1.04 percent, Singapore Exchange fell 0.25 percent, Singapore Technologies Engineering perked 0.09 percent, SingTel rose 0.22 percent, UOL Group spiked 2.44 percent, Wilmar International expanded 0.54 percent, Yangzijiang Shipbuilding surged 3.19 percent and Seatrium Limited, Keppel DC REIT and Thai Beverage were unchanged.

There is no lead from Wall Street, but the major European markets saw modest gains thanks to easing Middle East tensions.

The UK's FTSE 100 gained 0.25%, Germany's DAX and France's CAC 40 moved up 0.78% and 0.39%, respectively. Switzerland's SMI closed 0.5% up.

Germany's DAX hit a new all-time high, while France's CAC 40 climbed to its best levels since February 2026.

Disappointing U.S. employment data also gave the markets a lift as it fueled hopes that the Federal Reserve may not tighten its monetary policy in the near future.

Oil prices held steady on Friday but headed for their fourth straight weekly loss on eased concerns over supply disruptions in the Middle East. West Texas Intermediate crude for August delivery edged up 0.2 percent to $68.84 per barrel.