The Singapore stock market has climbed higher in two sessions straight, adding about 1.1% or 35 points along the way. The Straits Times Index now rests at a 3,195-point plateau, and it opens in the green again.
The U.S. and European markets were firmly higher on Friday, and the Asian bourses are supposed to follow that lead. In addition, the global forecast for the Asian markets is mostly positive on a spike in crude oil prices and solid economic data.
The STI closed solidly higher on Friday following gains from the property stocks, financial shares, and industrials. After trading between 3,171.51 and 3,194.71, the index added 0.65 percent or 20.52 points finishing at 3,194.71. The volume was worth 1.19 billion Singapore dollars. There were 171 decliners and 183 gainers.
Among the actives, Mapletree Commercial Trust stock surged 2.60 percent, while Golden Agri-Resources dropped 4.35 percent. On the other hand, SembCorp Industries added 2.33 percent, Corp jumped 1.04 percent, Keppel Yangzijiang Shipbuilding climbed 0.91 percent, Singapore Exchange gained 0.90 percent.
As stocks moved sharply higher on Friday and the major averages extended recent increases, the lead from Wall Street is firm.
The Dow added 1.22 percent or 337.26 points to 28,015.06. The NASDAQ also gained 85.83 points to 8,656.53. Furthermore, the S&P 500 advanced 0.91 percent or 28.48 points to 3,145.91. For the week, the NASDAQ and Dow fell 0.1 percent, and the S&P climbed 0.2 percent.
Moreover, following Saudi Arabia and Russia’s agreement on further output curbs, crude oil prices climbed sharply on Friday. West Texas Intermediate Crude oil futures for January ended up 1.3 percent or $0.77 at $59.20 a barrel. As a result, it is the highest settlement since September 17.
Key Points: US economy growth slowed to 1.6% in Q1, below the expected 2.4%. Consumer spending growth tapered, but business…
Key Points: Microsoft's რevenue surged to $61.9 billion, a 17% increase driven by robust sales in all business segments. Notable…
Key Points Ethereum is Trading below $3,180, under the 100-hourly SMA, indicating a cautious market trend despite the formation of…
Key Points Oil Prices rose, Brent crude oil reached $89.32 per barrel, up 2%, and WTI at $83.86, up 0.5%.…
Key Points GBP/USD is currently at 1.2502, impacted by UK-US economic turbulence and monetary policies. US Q1 GDP growth at…
Key Points: Despite global volatility, USD/INR is the least volatile major currency in FY 2023-24, supported by interbank USD sales…
This website uses cookies.