The Singapore stock market has moved higher in four straight sessions, gathering more than 100 points or 3.2 percent along the way. The Straits Times Index now rests just above the 3,370-point plateau and it’s expected to open higher again on Monday.
The global forecast for the Asian markets is upbeat on easing inflation concerns and an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses figure to follow that lead.
The STI finished sharply higher on Friday following gains from the financial shares, plantations and industrials, while the properties were soft, RTTNews cited.
For the day, the index climbed 33.75 points or 1.01 percent to finish at 3,371.17 after trading between 3,344.32 and 3,374.21.
Among the actives, Ascendas REIT improved 0.35 percent, while CapitaLand Investment stumbled 1.46 percent, City Developments sank 0.82 percent, Comfort DelGro retreated 1.59 percent, DBS Group spiked 1.48 percent, Emperador slumped 0.98 percent, Genting Singapore fell 0.53 percent, Hongkong Land lost 0.55 percent, Keppel Corp surged 3.45 percent, Mapletree Pan Asia Commercial Trust shed 0.59 percent, Mapletree Industrial Trust skidded 0.87 percent, Mapletree Logistics Trust added 0.58 percent, Oversea-Chinese Banking Corporation jumped 1.15 percent, SATS and DFI Retail both dropped 0.72 percent, Seatrium Limited tumbled 2.05 percent, SembCorp Industries increased 0.36 percent, Singapore Technologies Engineering climbed 0.81 percent, SingTel gained 0.38 percent, Wilmar International rose 0.26 percent, Yangzijiang Financial declined 1.52 percent, Yangzijiang Shipbuilding advanced 0.67 percent and CapitaLand Integrated Commercial Trust and Thai Beverage were unchanged.
The lead from Wall Street is solid as the major averages opened higher on Friday and remained in the green throughout the trading day.
