Singapore Shares May Tick Higher On Friday

The Singapore stock market on Thursday ended the two-day winning streak in which it had accelerated more than 80 points or 2.7 percent. The Straits Times Index now rests just beneath the 3,220-point plateau although it may rebound on Friday.

The global forecast for the Asian markets is mixed to higher on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The STI finished barely lower on Thursday as losses from the financials and properties were mitigated by support from the industrials.

For the day, the index dipped 1.98 points or 0.06 percent to finish at 3,219.00 after trading between 3,191.99 and 3,223.03.

Among the actives, Ascendas REIT slumped 0.71 percent, while CapitaLand Integrated Commercial Trust gained 0.52 percent, CapitaLand Investment sank 0.85 percent, City Developments dipped 0.14 percent, Comfort DelGro spiked 1.69 percent, DBS Group eased 0.03 percent, Genting Singapore improved 0.92 percent, Hongkong Land dropped 0.93 percent, Keppel Corp added 0.55 percent, Mapletree Pan Asia Commercial Trust tumbled 1.13 percent, Oversea-Chinese Banking Corporation slid 0.16 percent, SATS rallied 1.61 percent, SembCorp Industries advanced 0.97 percent, SingTel fell 0.41 percent, United Overseas Bank lost 0.27 percent, Yangzijiang Financial soared 2.74 percent, Yangzijiang Shipbuilding surged 4.17 percent and Mapletree Industrial Trust, Mapletree Logistics Trust, Wilmar International, Singapore Technologies Engineering, Thai Beverage, Emperador and Frasers Logistics were unchanged.

The lead from Wall Street ends up positive as the major averages opened firmly higher Thursday, faded into negative territory as the day progressed before a late rally pushed them into the green.

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