The Singapore stock market on Monday halted the two-day winning streak in which it had advanced more than 10 points or 0.3 percent. The Straits Times Index now rests just above the 3,250-point plateau although it figures to bounce higher again on Tuesday.
The global forecast for the Asian markets is upbeat on optimism ahead of the trade deal between the United States and China that is expected to be signed later this week. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The STI finished slightly lower on Monday as losses from the industrials were tempered by support from the properties and a mixed picture from the financial sector.
For the day, the index fell 4.88 points or 0.15 percent to finish at 3,251.07 after trading between 3,248.00 and 3,267.97. Volume was 1.36 billion shares worth 977.26 million Singapore dollars. There were 217 gainers and 1767 decliners.
Among the actives, SingTel plummeted 1.51 percent, while CapitaLand Mall Trust surged 1.19 percent, SembCorp Industries plunged 0.86 percent, Yangzijiang Shipbuilding tumbled 0.85 percent, Mapletree Commercial Trust skidded 0.82 percent, Singapore Technologies Engineering sank 0.74 percent, Singapore Exchange dropped 0.68 percent, Mapletree Logistics Trust advanced 0.57 percent, Genting Singapore shed 0.54 percent, CapitaLand climbed 0.51 percent, CapitaLand Commercial Trust added 0.48 percent, Singapore Press Holdings lost 0.46 percent, Comfort DelGro gained 0.44 percent, DBS Group collected 0.38 percent, Ascendas REIT rose 0.33 percent, Wilmar International increased 0.23 percent, United Overseas Bank was up 0.19 percent, Oversea-Chinese Banking Corporation fell 0.18 percent, Keppel Corp eased 0.15 percent and Thai Beverage and Singapore Airlines were unchanged.
The lead from Wall Street is positive as stocks moved mostly higher on Monday, rebounding from the pullback in the previous session. With the upward move, the