The Singapore stock market on Thursday wrote a finish to the two-day slide in which it had slumped more than 49 points or 1.3 percent. The Straits Times Index now rests just above the 3,235-point plateau and it may add to its winnings on Friday.
The global forecast for the Asian markets is upbeat after days of selling as recession fears may already be priced in. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The STI finished modestly higher on Thursday following gains from the properties and trusts, while the financial shares came in mixed.
For the day, the index added 10.63 points or 0.33 percent to finish at 3,236.08 after trading between 3,225.95 and 3,246.18. Volume was 1.4 billion shares worth 928.8 million Singapore dollars. There were 304 gainers and 222 decliners.
Among the actives, as cited by RTTNews, were CapitaLand Investment soared 2.26 percent, while City Developments jumped 0.99 percent, DBS Group fell 0.45 percent, Genting Singapore sank 0.56 percent, Hongkong Land surged 3.25 percent, Keppel Corp improved 0.54 percent, Mapletree Pan Asia Commercial Trust climbed 0.60 percent, Mapletree Industrial Trust gained 0.45 percent, Oversea-Chinese Banking Corporation advanced 0.57 percent, SATS spiked 1.05 percent, SembCorp Industries was up 0.31 percent, Singapore Technologies Engineering slumped 0.89 percent, SingTel rose 0.38 percent, United Overseas Bank collected 0.56 percent, Wilmar International dropped 0.74 percent, Yangzijiang Financial tumbled 2.94 percent, Yangzijiang Shipbuilding retreated 2.17 percent and Mapletree Logistics Trust, Ascendas REIT, CapitaLand Integrated Commercial Trust, Thai Beverage, Comfort DelGro and Emperador were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Thursday and remained in the green throughout the session.
