Rally Expected To Stall For Singapore Stock Market

The Singapore stock market has ticked higher in two straight sessions, gathering more than a dozen points or 0.3 percent along the way. The Straits Times Index now rests just above the 3,210-point plateau although it may run out of steam on Wednesday.

The global forecast for the Asian markets suggests mild consolidation with global trade concerns offset by mild upside in crude oil prices. The European and U.S. bourses were down and the Asian markets figure to open in similar fashion.

The STI finished slightly higher on Tuesday following gains from the financials and mixed performances from the industrials and properties.

For the day, the index added 3.31 points or 0.10 percent to finish at 3,210.51 after trading between 3,203.02 and 3,218.76. Volume was 1.35 billion shares worth 692 million Singapore dollars. There were 188 gainers and 177 decliners.

Among the actives, Golden Agri-Resources surged 3.45 percent, while Hutchison Port Holdings plummeted 2.04 percent, Thai Beverage soared 0.78 percent, CapitaLand Commercial Trust plunged 0.56 percent, CapitaLand Mall Trust jumped 0.47 percent, Comfort DelGro and Hongkong Land both tumbled 0.43 percent, SembCorp Industries skidded 0.36 percent, Oversea-Chinese Banking Corporation collected 0.27 percent, DBS Group added 0.16 percent and CapitaLand, SingTel, Ascendas REIT, Genting Singapore, Keppel Corp, Wilmar International and Yangzijiang Shipbuilding all were unchanged.

The lead from Wall Street is soft as stocks saw modest weakness on Tuesday as traders returned after the long, holiday weekend.

The Dow shed 12.34 points or 0.05 percent to 25,952.48, while the NASDAQ lost 18.29 points or 0.23 percent to 8,091.25 and the S&P 500 fell 4.80 points or 0.17 percent to 2,896.72.

The weakness on Wall Street came amid concerns on global trade after U.S. and Canadian officials failed to reach an agreement to reform NAFTA. Reports also suggest Trump will move ahead

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