The Singapore stock market has alternated between positive and negative finishes through the last five trading days since the end of the five-day losing streak in which it had stumbled more than 115 points or 3.5 percent. The Straits Times Index now rests just beneath the 3,175-point plateau and it’s expected to see additional support on Wednesday.
The global forecast for the Asian markets is upbeat on easing concerns over the health of the financial sector. The European and U.S. markets were firmly higher and the Asian markets are expected to open in similar fashion.
The STI finished sharply higher on Tuesday following gains from the financial shares and industrials, while the properties came in mixed, RTTNews cited.
For the day, the index climbed 34.17 points or 1.09 percent to finish at 3,173.93 after trading between 3,157.81 and 3,186.69.
Among the actives, Ascendas REIT was up 0.36 percent, while CapitaLand Investment rallied 1.72 percent, City Developments climbed 0.98 percent, Comfort DelGro added 0.86 percent, DBS Group surged 2.14 percent, Emperador dropped 0.97 percent, Genting Singapore soared 1.90 percent, Hongkong Land fell 0.24 percent, Keppel Corp advanced 0.95 percent, Oversea-Chinese Banking Corporation collected 0.99 percent, SATS rose 0.41 percent, SembCorp Industries and Singapore Technologies Engineering both spiked 1.75 percent, United Overseas Bank jumped 1.67 percent, Wilmar International perked 0.25 percent, Yangzijiang Shipbuilding gained 0.85 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Yangzijiang Financial, CapitaLand Integrated Commercial Trust, SingTel, Thai Beverage and Keppel DC REIT were unchanged.
The lead from Wall Street is broadly positive as the major averages opened higher on Tuesday and remained solidly in the green throughout the session.
