The Singapore stock market has experienced growth for five consecutive sessions, accumulating nearly 110 points or a 3% increase. Currently, the Straits Times Index (STI) stands just above the 3,560-point mark and is anticipated to maintain its upward trajectory on Monday.Global market forecasts are optimistic, driven by expectations of an impending interest rate cut. Both European and U.S. markets closed positively, and Asian markets are likely to follow suit.On Friday, the STI posted marginal gains, buoyed by the industrial sector, though financial and property stocks exhibited mixed performances. Specifically, the index increased by 6.12 points or 0.17%, concluding the day at 3,562.65, within a trading range of 3,556.30 to 3,572.84.In individual stock movements: CapitaLand Integrated Commercial Trust fell 0.47%, CapitaLand Investment decreased by 0.35%, while City Developments rose 0.56%, and Comfort DelGro dropped 0.67%. DBS Group saw an increase of 0.37%, Emperador surged 1.16%, Genting Singapore advanced 0.60%, but Hongkong Land plummeted 3.20%. Keppel DC REIT climbed 0.92%, Keppel Ltd edged up 0.65%, Mapletree Industrial Trust gained 0.40%, and Mapletree Logistics Trust jumped 0.69%. Oversea-Chinese Banking Corporation moved up 0.20%, Seatrium Limited improved by 0.61%, while SembCorp Industries edged up 0.19%. Singapore Technologies Engineering rose significantly by 1.30%, SingTel declined 0.30%, Thai Beverage advanced 0.96%, Yangzijiang Financial fell 1.45%, and Yangzijiang Shipbuilding leapt 3.23%. Mapletree Pan Asia Commercial Trust, SATS, and Wilmar International remained unchanged.Wall Street provided a strong lead, with major averages ending the day in positive territory on Friday. The Dow Jones Industrials surged 296.98 points or 0.72% to close at 41,393.78. The NASDAQ climbed 114.28 points or 0.65% to settle at 17,683.98, and the S&P 500 increased by 30.26 points or 0.54% to finish at 5,626.02.For the week, the NASDAQ advanced by 6.0%, the S&P 500 rose by 4.0%, and the Dow gained 2.6%. Investor optimism surrounding interest rates has bolstered Wall Street, especially ahead of the Federal Reserve’s policy decision expected on Wednesday, where a rate cut of at least 25 basis points is widely anticipated.Further boosting sentiment, the University of Michigan reported a better-than-expected rise in U.S. consumer sentiment for September.On the commodities front, oil prices dipped on Friday following reports of resumed crude oil production at several facilities in the U.S. Gulf of Mexico. October West Texas Intermediate Crude futures fell by $0.32 or 0.46%, closing at $68.65 per barrel.The material has been provided by InstaForex Company – www.instaforex.com
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