June 13, 2024

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Losses May Accelerate For Singapore Stock Market

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The Singapore stock market headed south again, one day after snapping the four-day slide in which it had stumbled more than 115 points or 3.8 percent. The Straits Times Index now sits just beneath the 3,080-point plateau and it’s expected to open under pressure again on Thursday.

The global forecast for the Asian markets is mixed to lower, with tech shares likely to weigh after disappointing earnings. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The STI finished slightly lower on Wednesday following losses from the property stocks and industrials, while the financial sector was mixed.

For the day, the index shed 5.10 points or 0.17 percent to finish at 3,078.78 after trading between 3,075.84 and 3,093.26.

Among the actives, Ascendas REIT retreated 1.57 percent, while CapitaLand Integrated Commercial Trust dropped 1.16 percent, CapitaLand Investment tumbled 1.63 percent, City Developments declined 1.58 percent, Genting Singapore surged 3.64 percent, Hongkong Land surrendered 2.21 percent, Keppel Corp 2.82 percent, Keppel DC REIT tanked 2.25 percent, Mapletree Pan Asia Commercial Trust stumbled 1.52 percent, Mapletree Industrial Trust slumped 1.37 percent, Mapletree Logistics Trust skidded 1.34 percent, Oversea-Chinese Banking Corporation collected 0.55 percent, SATS lost 0.81 percent, Seatrium Limited sank 0.87 percent, SembCorp Industries was down 0.22 percent, Singapore Technologies Engineering slid 0.27 percent, SingTel fell 0.42 percent, Thai Beverage rallied 0.95 percent, Wilmar International shed 0.86 percent, Yangzijiang Financial plummeted 3.23 percent and Yangzijiang Shipbuilding, Comfort DelGro, DBS Group and Emperador were unchanged.

The lead from Wall Street is broadly negative as the major averages opened mixed on Wednesday but quickly headed south and finished near session lows.

The Dow dropped 105.45 points or 0.32 percent to finish at 33,035.93, while the NASDAQ plunged 318,65…

2023-10-25 20:00:15

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