The Singapore stock market has moved lower in two straight sessions, dropping more than 35 points or 1 percent along the way. The Straits Times Index now rests just above the 3,365-point plateau although it may stop the bleeding on Wednesday.
The global forecast for the Asian markets is flat to higher ahead of the Federal Reserve’s interest rate decision and accompanying statement later today. The European markets were mixed and little changed and the U.S. bourses were higher and the Asian markets figure to split the difference.
The STI finished modestly lower on Tuesday following mixed performances from the financial shares, property stocks and industrial issues, RTTNews cited.
For the day, the index fell 12.62 points or 0.37 percent to finish at 3,365.67 after trading between 3,352.08 and 3,389.77.
Among the actives, Ascendas REIT retreated 1.03 percent, while CapitaLand Integrated Commercial Trust lost 0.47 percent, CapitaLand Investment declined 1.00 percent, City Developments advanced 0.73 percent, Comfort DelGro and Mapletree Industrial Trust both skidded 0.83 percent, DBS Group and DFI Retail Group both added 0.31 percent, Emperador plummeted 2.00 percent, Genting Singapore rallied 1.54 percent, Hongkong Land tanked 1.62 percent, Keppel Corp eased 0.13 percent, Mapletree Pan Asia Commercial Trust sank 0.55 percent, Mapletree Logistics Trust plunged 1.74 percent, Oversea-Chinese Banking Corporation fell 0.46 percent, SATS dipped 0.33 percent, SembCorp Industries climbed 0.84 percent, Singapore Technologies Engineering shed 0.54 percent, SingTel slid 0.40 percent, Thai Beverage tumbled 1.41 percent, United Overseas Bank dropped 0.80 percent, Wilmar International rose 0.25 percent, Yangzijiang Financial surrendered 1.33 percent and Yangzijiang Shipbuilding surged 4.03 percent.
The lead from Wall Street is broadly positive as the major averages opened roughly flat on Tuesday but moved steadily higher as the day progressed.
