The Singapore stock market has tracked lower in five consecutive trading days, slumping more than 115 points or 3.5 percent along the way. The Straits Times Index now rests just beneath the 3,130-point plateau although it may finally find traction on Wednesday.
The global forecast for the Asian markets is positive on bargain hunting and encouraging inflation data. The European and U.S. markets were sharply higher and the Asian bourses figure to follow that lead.
The STI finished barely lower on Tuesday following losses from the banks, gains from the REITs and mixed performances from the properties and industrials.
For the day, the index eased 2.62 points or 0.08 percent to finish at 3,129.75 after trading between 3,094.28 and 3,139.27.
Among the actives, Ascendas REIT spiked 2.61 percent, while CapitaLand Integrated Commercial Trust rose 0.55 percent, CapitaLand Investment climbed 1.46 percent, City Developments tumbled 1.94 percent, Comfort DelGro slumped 0.85 percent, DBS Group retreated 1.13 percent, Emperador advanced 0.98 percent, Hongkong Land added 0.68 percent, Keppel Corp fell 0.56 percent, Mapletree Pan Asia Commercial Trust soared 3.07 percent, Mapletree Industrial Trust rallied 2.23 percent, Mapletree Logistics Trust surged 3.77 percent, Oversea-Chinese Banking Corporation sank 0.74 percent, SATS skidded 0.83 percent, SembCorp Industries skyrocketed 6.10 percent, Singapore Technologies Engineering gained 0.89 percent, SingTel jumped 2.15 percent, Thai Beverage dropped 0.80 percent, United Overseas Bank declined 1.59 percent, Yangzijiang Shipbuilding plunged 3.12 percent and Genting Singapore, Wilmar International and Yangzijiang Financial were unchanged.
The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday and remained in the green throughout the session.
