Singapore Stock Market Due For Profit Taking

The Singapore stock market has climbed higher in five straight sessions, rising more than 80 points or 2.7 percent along the way. The Straits Times Index now rests just beneath the 3,230-point plateau although investors figure to cash in on Friday.

The global forecast for the Asian markets is negative on continued uncertainty regarding a trade deal between the United States and China. The European and U.S. markets were down and the Asian bourses are tipped to follow suit.

The STI finished modestly higher on Thursday following gains from the financial shares and industrials, while the plantations and properties were mixed.

For the day, the index gathered 21.96 points or 0.68 percent to finish at 3,229.88 after trading between 3,213.46 and 3,235.24. Volume was 1.33 billion shares worth 1.49 billion Singapore dollars. There were 241 gainers and 179 decliners.

Among the actives, Dairy Farm International Holdings surged 5.05 percent, while Venture Corporation soared 3.19 percent, Hongkong Land spiked 3.00 percent, Golden Agri-Resources plummeted 2.38 percent, Singapore Technologies accelerated 2.05 percent, Comfort DelGro plunged 1.71 percent, SingTel jumped 1.23 percent, DBS Group climbed 1.21 percent, SembCorp Industries advanced 0.88 percent, United Overseas Bank collected 0.86 percent, Mapletree Commercial Trust tumbled 0.85 percent, Wilmar International added 0.81 percent, CapitaLand Mall Trust skidded 0.78 percent, Ascendas REIT gained 0.63 percent, CapitaLand perked 0.56 percent, Oversea-Chinese Banking Corporation and Thai Beverage both gathered 0.55 percent, Genting Singapore and Yangzijiang Shipbuilding both rose 0.53 percent, Singapore Exchange fell 0.45 percent and CapitaLand Commercial Trust and Keppel Corp were unchanged.

The lead from Wall Street is soft as stocks opened lower on Thursday and remained in the red throughout the session.

The Dow shed 140.46 points or 0.52 percent to 27,046.23, while the NASDAQ lost 11.62points or 0.14 percent to 8,292.36 and the S&P 500 fell

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