Singapore Stock Market Likely Rangebound On Monday

The Singapore stock market on Friday snapped the two-day slide in which it had stumbled almost 45 points or 1.8 percent. The Straits Times Index now sits just beneath the 2,535-point plateau and it’s expected to see little movement on Monday.

The global forecast for Asian markets is murky, clouded by uncertainty regarding stimulus in the United States. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The STI finished modestly higher on Friday as gains from the financials and industrials were offset by weakness from the properties.

For the day, the index added 9.40 points or 0.37 percent to finish at 2,533.02 after trading between 2,526.86 and 2,545.16. Volume was 1.07 billion shares worth 1.22 billion Singapore dollars. There were 246 gainers and 177 decliners.

Among the actives, Wilmar International surged 2.98 percent, while Yangzijiang Shipbuilding soared 2/11 percent, Thai Beverage spiked 1.75 percent, CapitaLand Mall Trust plunged 1.55 percent, DBS Group accelerated 1.52 percent, SembCorp Industries rallied 1.41 percent, Venture Corporation jumped 1.37 percent, SATS tanked 1.30 percent, Oversea-Chinese Banking Corporation climbed 1.27 percent, Mapletree Commercial Trust tumbled 1.03 percent, Mapletree Logistics Trust skidded 0.96 percent, Singapore Exchange advanced 0.88 percent, Singapore Technologies Engineering sank 0.83 percent, Hongkong Land dropped 0.79 percent, City Developments added 0.78 percent, United Overseas Bank collected 0.72 percent, Comfort DelGro gained 0.69 percent, Ascendas REIT shed 0.62 percent, CapitaLand Commercial Trust rose 0.61 percent, Singapore Airlines increased 0.57 percent, Keppel Corp was up 0.44 percent, CapitaLand lost 0.36 percent and Dairy Farm International Holdings, Genting Singapore, SingTel and Singapore Press Holdings were unchanged.

The lead from Wall Street is uninspired after stocks opened higher on Friday but faded as the day progressed, eventually ending mixed.

The Dow added 112.11 points or 0.39

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