Win Streak May Continue For Singapore Stock Market

(RTTNews) - The Singapore stock market has tracked higher in three straight sessions, collecting more than 40 points or 1.1 percent along the way. The Straits Times Index now rests just above the 3,750-point plateau and it may add to its winnings again on Tuesday. The global forecast for the Asian markets suggests mild upside, supported by strength from the technology stocks. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The STI finished modestly higher on Monday following gains from the financial shares, property stocks and industrial issues. For the day, the index added 12.06 points or 0.32 percent to finish at 3,751.35 after trading between 3,746.11 and 3,771.70. Among the actives, CapitaLand Integrated Commercial Trust gathered 0.51 percent, while CapitaLand Investment increased 0.73 percent, City Developments and UOL Group both perked 0.19 percent, Comfort DelGro added 0.68 percent, DBS Group collected 0.28 percent, Emperador jumped 1.20 percent, Genting Singapore surged 1.96 percent, Keppel DC REIT rose 0.45 percent, Keppel Ltd was up 0.15 percent, Mapletree Industrial Trust improved 0.43 percent, Mapletree Logistics Trust spiked 1.56 percent, Oversea-Chinese Banking Corporation sank 0.49 percent, SATS slipped 0.27 percent, Seatrium Limited climbed 1.04 percent, SembCorp Industries rallied 1.15 percent, Singapore Technologies Engineering gained 0.67 percent, SingTel advanced 0.97 percent, Thai Beverage soared 1.77 percent, Wilmar International rose 0.65 percent, Yangzijiang Financial accelerated 1.25 percent, Yangzijiang Shipbuilding improved 0.83 percent and Hongkong Land and Mapletree Pan Asia Commercial Trust were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened mixed and finished the same way.

The Dow slumped 128.65 points or 0.29 percent to finish at 4,4782.00, while the NASDAQ rallied 185.78 points or 0.97 percent to close at a record 19,403.95 and the S&P 500 added 14.77 points or 0.24 percent to end at 6,047.15.

Investors were cautious ahead of a slew of crucial economic data later this week, including reports on private sector and non-farm payroll employment, service sector activity and a reading on consumer sentiment.

In U.S. economic news, the Commerce Department said construction spending increased more than expected in October. Also, the Institute for Supply Management said its reading on U.S. manufacturing increased by more than expected in November but continued to indicate a contraction.

Crude oil prices climbed higher on Monday on possible supply disruptions due to rising tensions on the geopolitical front although the upside was marginal as investors look to Thursday's OPEC meeting. West Texas Intermediate Crude oil futures for January ended up by $0.10 or 0.15 percent at $68.10 a barrel.