The Singapore stock market ticked higher again on Wednesday, one session after it had ended the four-day winning streak in which it had advanced almost 65 points or 2.1 percent. The Straight Times Index now rests just beneath the 3,095-point plateau and it’s looking at another green light for Thursday.
The global forecast for the Asian markets is firm thanks to renewed optimism over the outlook for interest rates. The European markets were flat and the U.S. bourses were sharply higher and the Asian markets figure to follow the latter lead.
The STI finished slightly higher on Wednesday following gains from the financial shares and the industrial stocks.
For the day, the index picked up 4.08 points or 0.13 percent to finish at 3,094.48 after trading between 3,078.93 and 3,101.18. Volume was 2.17 billion shares worth 1.03 billion Singapore dollars. There were 225 gainers and 146 decliners.
Among the actives, Golden Agri-Resources surged 6.67 percent, while CapitaLand Commercial Trust soared 1.74 percent, Yangzijiang Shipbuilding spiked 1.63 percent, Thai Beverage jumped 1.59 percent, SingTel plummeted 1.29 percent, SembCorp Industries climbed 1.15 percent, CapitaLand Mall Trust advanced 0.90 percent, DBS Group perked 0.72 percent, CapitaLand gathered 0.63 percent, Genting Singapore added 0.53 percent, Comfort DelGro gained 0.48 percent, Keppel Corp was up 0.33 percent, Oversea-Chinese Banking Corporation collected 0.18 percent, United Overseas Bank picked up 0.08 percent and Hutchison Port Holdings, Ascendas REIT and Wilmar International were unchanged.
The lead from Wall Street is broadly positive as stocks opened higher Wednesday and the gains for the major averages accelerated in afternoon trade.
The Dow surged 617.70 points or 2.50 percent to 25,366.43, while the NASDAQ soared 208.89 points or 2.95 percent to 7,291.59 and the S&P jumped 61.61 points or 2.30 percent to 2,743.78.
The surge from Wall Street followed dovish remarks