Singapore Stock Market May See Support At 3,900 Points

(RTTNews) - The Singapore stock market has moved lower in three consecutive trading days, slipping more than 20 points or 0.6 percent along the way. The Straits Times Index now sits just beneath the 3,910-point plateau although it may stop the bleeding on Thursday.

The global forecast for the Asian markets is fairly upbeat, with bargain hunting expected among especially 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 slightly lower on Wednesday following weakness from the industrials and trusts, while the properties were up and the financial shares were mixed.

For the day, the index dipped 7.82 points or 0.20 percent to finish at 3,908.05 after trading between 3,896.06 and 3,928.75.

Among the actives, CapitaLand Integrated Commercial Trust added 0.51 percent, while CapitaLand Investment dropped 0.79 percent, Comfort DelGro spiked 1.46 percent, DBS Group collected 0.26 percent, Genting Singapore advanced 0.68 percent, Hongkong Land surged 2.66 percent, Keppel DC REIT plunged 2.37 percent, Mapletree Industrial Trust shed 0.50 percent, Mapletree Logistics Trust slumped 0.81 percent, Oversea-Chinese Banking Corporation stumbled 2.22 percent, SATS jumped 1.30 percent, Seatrium Limited plummeted 3.93 percent, Thai Beverage rallied 0.97 percent, Wilmar International climbed 0.96 percent, Yangzijiang Financial soared 2.65 percent, Yangzijiang Shipbuilding sank 0.74 percent and SembCorp Industries, Singapore Technologies Engineering, SingTel, Keppel Ltd, Mapletree Pan Asia Commercial Trust, City Developments and Emperador were unchanged.

The lead from Wall Street offers little clarity as the major averages hugged the line on Wednesday, finishing mixed and roughly flat as investors waited until after close for results from NVIDIA Corporation (NVDA).

The Dow stumbled 188.04 points or 0.43 percent to finish at 43,433.12, while the NASDAQ added 48.88 points or 0.26 percent to close at 19,075.26 and the S&P 500 perked 0.81 points or 0.01 percent to end at 5,956.06.

Wall Street saw some early bargain hunting following recent weakness in the markets, but mostly investors were waiting on the NVIDIA results.

After the bell, NVIDIA unveiled Q4 earnings that increased from last year, beat estimates slightly and provided positive guidance. That fueled choppy but not negative trade after hours.

In economic news, the Commerce Department released a report showing a substantial pullback by new home sales in the U.S. in January.

Crude oil prices drifted lower on Wednesday amid concerns about the outlook for demand as the Trump administration's tariff policies are expected to slow global economic growth. West Texas Intermediate Crude oil futures for April settled lower by $0.31 at $68.62 a barrel.