The Singapore stock market on Thursday wrote a finish to the two-day winning streak in which it had collected almost 40 points or 1.2 percent. The Straits Times Index now rests just beneath the 3,275-point plateau and it may extend its losses on Friday.
The global forecast for the Asian markets is decidedly soft on concerns about the economy and the outlook for interest rates. The European and U.S. bourses were sharply lower and the Asian markets are tipped to follow that lead.
The STI finished slightly lower on Thursday following losses from the financials, support from the properties and mixed performances from the industrials and trusts.
For the day, the index dipped 4.82 points or 0.15 percent to finish at 3,273.75 after trading between 3,256.79 and 3,287.53.
Among the actives, CapitaLand Integrated Commercial Trust skidded 0.49 percent, while CapitaLand Investment jumped 1.36 percent, City Developments rose 0.12 percent, DBS Group shed 0.35 percent, Genting Singapore climbed 1.09 percent, Hongkong Land added 0.43 percent, Keppel Corp sank 0.40 percent, Mapletree Pan Asia Commercial Trust slumped 0.59 percent, Mapletree Industrial Trust advanced 0.89 percent, Mapletree Logistics Trust rallied 1.23 percent, Oversea-Chinese Banking Corporation weakened 0.56 percent, SATS stumbled 0.69 percent, SembCorp Industries strengthened 1.22 percent, Singapore Technologies Engineering lost 0.29 percent, SingTel declined 0.77 percent, Thai Beverage retreated 0.74 percent, United Overseas Bank fell 0.13 percent, Wilmar International dropped 0.48 percent, Yangzijiang Shipbuilding tumbled 1.45 percent and Yangzijiang Financial, Ascendas REIT, Comfort DelGro, Emperador, DFI Retail and Keppel DC REIT were unchanged.
The lead from Wall Street is broadly negative as the major averages opened sharply lower on Thursday and remained deep in the red throughout the session.
