(RTTNews) – The Singapore stock market has finished higher in four straight sessions, gathering almost 50 points or 2 percent along the way. The Straits Times Index now sits just beneath the 2,545-point plateau and it may tick higher again on Wednesday.
The global forecast for the Asian markets is positive on rising oil prices and stimulus optimism in the United States. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The STI finished slightly higher on Thursday following mixed performances from the financials, properties and industrials.
For the day, the index rose 4.75 points or 0.19 percent to finish at 2,543.11 after trading between 2,526.32 and 2,546.17. Volume was 975 million shares worth 804.6 million Singapore dollars. There were 222 gainers and 156 decliners.
Among the actives, Thai Beverage surged 1.71 percent, while CapitaLand Mall Trust soared 1,55 percent, SembCorp Industries spiked 1.53 percent, Genting Singapore accelerated 1.45 percent, Comfort DelGro rallied 1.39 percent, CapitaLand Commercial Trust jumped 1.20 percent, Singapore Press Holdings climbed 0.97 percent, SATS gathered 0.96 percent, Dairy Farm International sank 0,76 percent, DBS Group advanced 0.72 percent, Mapletree Commercial Trust added 0.51 percent, Keppel Corp dropped 0.45 percent, Ascendas REIT gained 0.31 percent, Singapore Airlines shed 0.28 percent, Singapore Exchange rose 0.22 percent, United Overseas Bank lost 0.20 percent, Oversea-Chinese Banking Corporation eased 0.12 percent and Yangzijiang Shipbuilding, Wilmar International, Mapletree Logistics Trust, City Developments, Singapore Technology Engineering, SingTel and CapitaLand all were unchanged.
The lead from Wall Street is upbeat as stocks opened higher on Thursday and mostly remained in the green throughout the session, extending gains from the previous day.
The Dow added 122.05 points or 0.43 percent to finish at 28,425.51, while the NASDAQ gained 56.38 points or 0.50 percent to end at 11,420.98 and the S&P 500 rose 27.38 points or 0.80 percent to close at 3,446.83.
The strength on Wall Street reflects continued optimism about a coronavirus stimulus bill following the latest comments from President Donald Trump – who pulled out of negotiations of a new stimulus earlier this week but now says “we have a really good chance of doing something.”
On the economic front, the Labor Department released a report showing initial jobless claims came in higher than expected last week.
Crude oil prices rose sharply on Thursday due to the impact of Hurricane Delta on crude output in the Gulf of Mexico, and on hopes the U.S. will see some sort of stimulus sometime soon. West Texas Intermediate Crude oil futures for November were up $1.24 or 3.1 percent at $41.19 a barrel.
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