Singapore Stock Market May Add To Its Winnings

(RTTNews) - The Singapore stock market has finished higher in four straight sessions, collecting more than 90 points or 2.8 percent along the way. The Straits Times Index now rests just beneath the 3,500-point and it's tipped to open in the green again on Monday.

The global forecast for the Asian markets is positive, with bargain hunting expected in the technology sectors. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The STI finished modestly higher on Friday following gains from the properties and trusts and mixed performances from the financial shares and industrials.

For the day, the index gained 22.72 points or 0.65 percent to finish at 3,497.78 after trading between 3,480.14 and 3,504.98.

Among the actives, CapitaLand Integrated Commercial Trust rallied 3.92 percent, while CapitaLand Investment soared 4.85 percent, City Developments increased 1.29 percent, Comfort DelGro rose 0.72 percent, DBS Group stumbled 1.17 percent, Emperador slumped 1.16 percent, Genting Singapore advanced 1.75 percent, Hongkong Land improved 1.52 percent, Keppel DC REIT accelerated 4.19 percent, Keppel Ltd added 1.05 percent, Mapletree Pan Asia Commercial Trust skyrocketed 5.51 percent, Mapletree Industrial Trust jumped 3.69 percent, Mapletree Logistics Trust strengthened 3.03 percent, Oversea-Chinese Banking Corporation collected 0.53 percent, SATS surged 5.45 percent, Seatrium Limited spiked 4.23 percent, SembCorp Industries gathered 0.63 percent, Singapore Technologies Engineering lost 0.68 percent, SingTel gained 1.03 percent, Wilmar International climbed 2.26 percent and Yangzijiang Shipbuilding sank 0.88 percent Thai Beverage and Yangzijiang Financial were unchanged.

The lead from all Street is upbeat as the major averages opened higher and remained well into the green throughout the session.

The Dow rallied 247.10 points or 0.62 percent to finish at 40,000.90, while the NASDAQ climbed 115.04 points or 0.63 percent to end at 18,398.45 and the S&P 500 gained 30.81 points or 0.55 percent to close at 5,615.35.

For the week, the Dow shot up 1.6 percent, the S&P 500 jumped 0.9 percent and the NASDAQ rose 0.3 percent.

The rebound on Wall Street came as traders looked to pick up stocks at somewhat reduced levels following the steep drop on Thursday, which partly reflected a rotation out of leading tech stocks like Nvidia (NVDA).

Traders also remained optimistic about the outlook for interest rates even though the Labor Department said producer prices in the U.S. increased by slightly more than expected in June.

Oil futures settled lower on Friday, weighed down by data showing a bigger than expected increase in U.S. producer prices in June. West Texas Intermediate Crude oil futures for August ended down by $0.41 at $82.21 a barrel.