Singapore Stock Market Tipped To Open In The Green

(RTTNews) - The Singapore stock market has moved higher in four straight sessions, collecting more than 90 points or 2.1 percent along the way. The Straits Times Index now rests just above the 4,420-point plateau and it may see additional support on Monday.

The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The STI finished slightly higher on Friday following gains from the properties and industrials, while the financial sector came in mixed.

For the day, the index added 5.94 points or 0.13 percent to finish at the daily low of 4,422.21 after peaking at 4,443.58.

Among the actives, CapitaLand Ascendas REIT dropped 0.69 percent, while CapitaLand Integrated Commercial Trust slumped 0.83 percent, CapitaLand Investment advanced 0.75 percent, City Developments climbed 0.96 percent, DBS Group gathered 0.17 percent, DFI Retail Group shed 0.29 percent, Genting Singapore sank 0.68 percent, Hongkong Land gained 0.32 percent, Keppel Ltd increased 0.62 percent, Oversea-Chinese Banking Corporation fell 0.18 percent, SATS rose 0.29 percent, Seatrium Limited soared 1.40 percent, SembCorp Industries perked 0.16 percent, Singapore Technologies Engineering spiked 1.18 percent, Thai Beverage rallied 1.02 percent, United Overseas Bank eased 0.06 percent, UOL Group added 0.49 percent, Wilmar International improved 0.67 percent, Yangzijiang Financial collected 0.95 percent, Yangzijiang Shipbuilding surged 3.89 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Keppel DC REIT, Comfort DelGro and SingTel were unchanged.

The lead from Wall Street is strong as the major averages opened solidly higher on Friday and remained well in the green throughout the trading day and all hit fresh record closing highs.

The Dow jumped 472.52 points or 1.01 percent to finish at 47,207.12, while the NASDAQ rallied 263.07 points or 1.15 percent to end at 23,204.87 and the S&P 500 added 53.25 points or 0.79 percent to close at 6,791.69.

The rally on Wall Street followed the release of a closely watched report on consumer price inflation that increased confidence that the Federal Reserve will continue cutting interest rates in the coming months.

While most U.S. economic data has been postponed indefinitely due to the ongoing government shutdown, the Labor Department released a report showing consumer prices increased less than expected in September.

Buying interest was also generated in reaction to upbeat earnings news from big-name companies like Ford (F), Procter & Gamble (PG) and Intel (INTC).

Crude oil prices dipped Friday on profit taking following large gains a day earlier. West Texas Intermediate crude for December delivery slipped $0.17 or 0.3 percent to $61.62 per barrel; for the week, crude surged 7.8 percent.