The Singapore stock market has moved lower in consecutive trading days, sinking more than 40 points or 1.3 percent along the way. The Straits Times Index now sits just beneath the 3,175-point plateau although it’s due for support on Thursday.
The global forecast for the Asian markets is upbeat on optimism over debt ceiling negotiations in the United States. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The STI finished sharply lower on Wednesday following losses from the financials and properties, while the industrials were mixed, RTTNews cited.
For the day, the index stumbled 40.20 points or 1.25 percent to finish at 3,173.84 after trading between 3,168.79 and 3,208.92.
Among the actives, Ascendas REIT plunged 3.47 percent, while CapitaLand Integrated Commercial Trust surrendered 1.95 percent, CapitaLand Investment plummeted 3.68 percent, City Developments declined 1.84 percent, Comfort DelGro tanked 3.45 percent, DBS Group dropped 1.26 percent, Emperador advanced 1.00 percent, Genting Singapore tumbled 1.92 percent, Hongkong Land slipped 0.68 percent, Keppel Corp fell 0.77 percent, Mapletree Pan Asia Commercial Trust retreated 1.79 percent, Mapletree Industrial Trust lost 0.85 percent, Mapletree Logistics Trust stumbled 1.78 percent, Oversea-Chinese Banking Corporation shed 1.06 percent, SATS eased 0.38 percent, SembCorp Industries rose 0.21 percent, Singapore Technologies Engineering sank 1.08 percent, SingTel slumped 1.55 percent, Thai Beverage gained 0.85 percent, United Overseas Bank weakened 1.51 percent, Wilmar International slid 0.75 percent, Yangzijiang Financial skidded 1.43 percent and Yangzijiang Shipbuilding rallied 2.46 percent.
The lead from Wall Street is solid as the major averages opened higher on Wednesday and accelerated throughout the day, ending near session highs.
