- June 4, 2021
- Posted by: Stratford Team
- Category: Markets
(RTTNews) – The Singapore stock market has alternated between positive and negative finishes through the last four trading days since the end of the six-day winning streak in which it had jumped almost 75 points or 2.4 percent. The Straits Times Index now rests just above the 3,165-point plateau although it’s expected to head south again on Friday.
The global forecast for the Asian markets is mixed to lower ahead of key U.S. jobs data later today, and the effect it may have on interest rates. The European markets were mixed and the U.S. bourses were down and the Asian market figure to split the difference.
The STI finished slightly higher on Thursday following gains from the industrials and a mixed picture from the financial sector.
For the day, the index rose 3.96 points or 0.13 percent to finish at 3,165.00 after trading between 3,159.60 and 3,177.10. Volume was 2.45 billion shares worth 1.15 billion Singapore dollars. There were 282 gainers and 223 decliners.
Among the actives, Ascendas REIT rose 0.34 percent, while CapitaLand Integrated Commercial Trust and Singapore Exchange both added 0.48 percent, City Developments soared 1.56 percent, Comfort DelGro sank 0.60 percent, Dairy Farm International surged 2.06 percent, DBS Group shed 0.33 percent, Genting Singapore climbed 0.58 percent, Keppel Corp and Singapore Press Holdings both advanced 0.56 percent, Oversea-Chinese Banking Corporation collected 0.40 percent, SATS tumbled 1.25 percent, Singapore Airlines dropped 0.40 percent, United Overseas Bank eased 0.11 percent, Wilmar International gained 0.42 percent, Yangzijiang Shipbuilding jumped 0.68 percent and Mapletree Logistics Trust, Jardine Strategic Holdings, Mapletree Commercial Trust, Singapore Technologies Engineering, SingTel, SembCorp Industries, CapitaLand and Thai Beverage all were unchanged.
The lead from Wall Street is negative as stocks opened firmly lower on Thursday, made back some ground as the day progressed but still ended solidly in the red.
The Dow shed 23.34 points or 0.07 percent to finish at 34,577.04, while the NASDAQ plunged 141.82 points or 1.03 percent to end at 13,614.51 and the S&P 500 fell 15.27 points 0.36 percent to close at 4,192.85.
The early weakness on Wall Street came as strong jobs data led to renewed concerns about the outlook for monetary policy when payroll processor ADP said private sector employment in the U.S. spiked much more than expected in May.
Also, the Labor Department noted a modest decrease in first-time claims for U.S. jobless benefits last week. The data comes ahead of the Labor Department’s more closely watched report on the employment situation last month.
Crude oil futures settled roughly flat on Thursday after two straight days of strong gains as traders reacted to inventory data and weighed energy demand prospects. West Texas Intermediate Crude oil futures for July ended down $0.02 at $68.81 a barrel.
Closer to home, Singapore will see April figures for retail sales later today; in March, sales were up 3.0 percent on month and 6.2 percent on year.