Win Streak May Continue For Singapore Stock Market

(RTTNews) - The Singapore stock market has moved higher in three straight sessions, advancing more than 40 points or 1 percent along the way. The Straits Times Index now sits just above the 3,915-point plateau and it may add to its winnings again on Friday.

The global forecast for the Asian markets is mixed, with tariff concerns continuing to linger. The European markets were down and the U.S. bourses were up and the Asian markets figure to split the difference.

The STI finished slightly higher again on Thursday following gains from the industrials and mixed performances from the financial shares and property stocks.

For the day, the index rose 4/92 points or 0.13 percent to finish at 3,916.84 after trading between 3,897.64 and 3,921.17.

Among the actives, CapitaLand Investment fell 0.40 percent, while City Developments improved 0.62 percent, Comfort DelGro sank 0.70 percent, DBS Group dipped 0.35 percent, DFI Retail Group surged 1.52 percent, Frasers Centrepoint Trust lost 0.45 percent, Genting Singapore stumbled 1.43 percent, Hongkong Land retreated 1.15 percent, Keppel Ltd climbed 0.88 percent, Mapletree Industrial Trust shed 0.52 percent, Mapletree Logistics Trust slumped 0.91 percent, Oversea-Chinese Banking Corporation gained 0.37 percent, SATS rallied 0.97 percent, Seatrium Limited increased 0.49 percent, SembCorp Industries advanced 0.75 percent, Singapore Technologies Engineering and SingTel both rose 0.26 percent, UOL Group dropped 0.87 percent, Yangzijiang Financial collected 0.70 percent, Yangzijiang Shipbuilding added 0.48 percent and Thai Beverage, Wilmar International, Keppel DC REIT, Mapletree Pan Asia Commercial Trust, Emperador, CapitaLand Integrated Commercial Trust and Frasers Logistics & Commercial Trust were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Thursday, faded midday but bounced higher into the close.

The Dow climbed 117.03 points or 0.28 percent to finish at 42,215.73, while the NASDAQ added 74.93 points or 0.39 percent to close at 19,175.87 and the S&P 500 rose 23.62 points or 0.40 percent to end at 5,912.17.

Early buying interest was generated in reaction to news that a federal court blocked President Donald Trump's reciprocal tariffs on imports from U.S. trade partners from going into effect.

But the Trump administration immediately appealed the decision, and an appeals court temporarily paused the lower court's ruling later in the day.

A positive reaction to earnings news from Nvidia (NVDA) also contributed to initial strength on Wall Street after the company reported fiscal first quarter results that exceeded analyst estimates on both the top and bottom lines.

Crude oil futures moved sharply lower Thursday amid lingering supply concerns amid the possibility OPEC may accelerate oil production hikes in July. West Texas Intermediate crude for July delivery tumbled $0.90 or 1.5 percent to $60.94 a barrel.