The Singapore stock market has finished lower in four straight sessions, sinking more than 60 points or 1.9 percent along the way. The Straits Times Index now rests just above the 3,260-point plateau, although it may finally stop the bleeding on Friday.
The global forecast for the Asian markets is upbeat, with bargain hunting expected after selling and uncertainty earlier in the week. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The STI finished sharply lower on Thursday following losses from the industrial stocks, properties and financial.
For the day, the index slumped 35.11 points or 1.06 percent to finish at the daily low of 3,264.93 after peaking at 3,303.44.
Among the actives, CapitaLand Integrated Commercial Trust rose 0.52 percent, while CapitaLand Investment stumbled 1.56 percent, City Developments slumped 1.38 percent, Comfort DelGro soared 2.59 percent, DBS Group skidded 0.92 percent, Hongkong Land tanked 2.77 percent, Keppel Corp plummeted 26.43 percent, Mapletree Industrial Trust advanced 0.86 percent, Mapletree Logistics Trust added 0.60 percent, Oversea-Chinese Banking Corporation surrendered 2.02 percent, SATS surged 2.94 percent, SembCorp Industries tumbled 2.63 percent, Singapore Technologies Engineering gained 0.57 percent, SingTel dropped 0.82 percent, Thai Beverage sank 0.77 percent, United Overseas Bank plunged 4.42 percent, Wilmar International lost 0.75 percent, Yangzijiang Financial retreated 1.39 percent, Yangzijiang Shipbuilding declined 1.48 percent and Emperador, Mapletree Pan Asia Commercial Trust, Ascendas REIT, Genting Singapore, Frasers Logistics and DFI Retail were unchanged.
The lead from Wall Street ends up firm as the major averages opened higher on Thursday, slumped midday but rebounded to end firmly in the green.
