The Singapore stock market experienced a rebound on Thursday, following a pause in its four-day winning drive, during which it had accrued over 35 points or 1 percent. As it stands, the Straits Times Index is positioned slightly above the 3,400 mark but may potentially decline on Friday.The global outlook for the Asian markets indicates minimal changes ahead of the key inflation data release later in the day. While European markets showed an upward trend, U.S. markets were mixed and largely flat, suggesting a steady outlook for Asian markets.On Thursday, the STI edged moderately higher, buoyed by gains in the financial sector alongside mixed performances from property and trust sectors.For the day, the index rose by 13.44 points or 0.40 percent, closing at 3,404.47, after fluctuating between 3,379.07 and 3,414.91.Among the actively traded stocks, CapitaLand Investment climbed 1.13 percent, City Developments slipped 0.38 percent, and Comfort DelGro advanced 0.71 percent. DBS Group saw an increase of 0.36 percent, Genting Singapore spiked 1.27 percent, and Hongkong Land soared by 2.45 percent. Conversely, Keppel Ltd declined 0.82 percent, Mapletree Industrial Trust rose slightly by 0.41 percent, Oversea-Chinese Banking Corporation marginally added 0.21 percent, and Seatrium Limited dropped 1.36 percent. Additionally, SembCorp Industries gained 0.85 percent, Singapore Technologies Engineering dipped 0.45 percent, while SingTel surged by 3.07 percent, and Wilmar International fell by 0.95 percent. Yangzijiang Shipbuilding saw a minor rise of 0.40 percent, and several others, including Emperador, Keppel DC REIT, SATS, Thai Beverage, Mapletree Pan Asia Commercial Trust, CapitaLand Integrated Commercial Trust, Yangzijiang Financial, Mapletree Logistics Trust, and Frasers Centrepoint Trust, remained unchanged.Wall Street’s guidance remains inconclusive as the major averages opened on a higher note on Thursday, maintaining a strength in the green for much of the day before a late downturn led to a mixed and relatively unchanged close.The Dow Jones Industrial Average added 243.63 points or 0.59 percent, reaching a record close at 41,335.05. Meanwhile, the NASDAQ composite dipped 39.60 points or 0.23 percent to settle at 17,516.43, and the S&P 500 saw a marginal decline of 0.22 points or 0.00 percent, ending at 5,591.96.The initial strength on Wall Street was partly driven by positive reactions to the latest U.S. economic data. Notably, a Commerce Department report revealed that the U.S. economy had unexpectedly grown more than initially estimated in the second quarter.Furthermore, a Labor Department report indicated a slight decrease in the number of first-time claims for U.S. unemployment benefits last week.However, the buying interest diminished later in the session as traders looked forward to the release of closely monitored consumer price inflation data due later today.The tech-heavy NASDAQ’s decline was also attributed to a drop in Nvidia (NVDA) shares, despite the company posting Q2 results that surpassed expectations and forecasting higher-than-estimated revenues for the fiscal third quarter.Oil prices significantly rose on Thursday, driven by supply concerns following reports of Libya halting production and exports at several ports. West Texas Intermediate Crude oil futures for October delivery surged $1.39 or 1.87 percent, closing at $75.91 per barrel.The material has been provided by InstaForex Company – www.instaforex.com
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