The Singapore stock market climbed higher again on Thursday, one session after it had ended the two-day winning streak in which it had gathered more than 60 points or 1.9 percent. The Straits Times Index now rests just beneath the 3,255-point plateau and it’s looking at another firm lead on Friday.
The global forecast for the Asian markets is upbeat thanks to easing concerns over a global trade war. The European and U.S. markets were up and the Asian markets are expected to open in similar fashion.
The STI finished slightly higher on Thursday as gains from the properties were offset by weakness from the plantations and industrials, while the financials came in mixed.
For the day, the index gained 3.93 points or 0.12 percent to finish at 3,253.01 after trading between 3,240.22 and 3,263.42. Volume was 2.32 billion shares worth 1.12 billion Singapore dollars. There were 251 gainers and 150 decliners.
Among the actives, Genting Singapore surged 3.31 percent, while Golden Agri-Resources plunged 1.85 percent, Hutchison Port Holdings tumbled 1.79 percent, CapitaLand spiked 1.32 percent, SembCorp Industries and Yangzijiang Shipbuilding both skidded 1.12 percent, Thai Beverage jumped 0.69 percent, Wilmar International dropped 0.66 percent, CapitaLand Commercial Trust and Singapore Airlines both advanced 0.57 percent, Keppel Corp shed 0.45 percent, Ascendas REIT added 0.37 percent, SingTel fell 0.31 percent, United Overseas Bank collected 0.30 percent, Oversea-Chinese Banking Corporation lost 0.26 percent, DBS Group eased 0.04 percent and CapitaLand Mall Trust was unchanged.
The lead from Wall Street is positive as stocks showed a strong move back to the upside Thursday, more than offsetting the losses in the previous session.
The Dow jumped 224.44 points or 0.91 percent to finish at 24,924.89, while the NASDAQ surged 107.30 points or 1.39 percent to a record closing high of 7,823.92 and the S&P