The Singapore stock market moved lower again on Friday, one session after ending the two-day slide in which it had fallen more than 15 points or 0.5 percent. The Straits Times Index now sits just above the 3,205-point plateau although it figures to bounce higher again on Monday.
The global forecast for the Asian markets is cautiously optimistic, with bargain hunting expected to support the more oversold bourses. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.
The STI finished modestly lower on Friday following losses from the financial shares and mixed performances from the properties and industrials, RTTNews cited.
For the day, the index lost 18.84 points or 0.58 percent to finish at 3,207.75 after trading between 3,204.66 and 3,225.77.
Among the actives, Ascendas REIT advanced 0.72 percent, while Comfort DelGro dropped 0.79 percent, DBS Group fell 0.54 percent, Hongkong Land rose 0.28 percent, Keppel Corp and SembCorp Industries both lost 0.58 percent, Mapletree Pan Asia Commercial Trust shed 0.67 percent, Mapletree Industrial Trust gained 0.43 percent, Mapletree Logistics Trust added 0.60 percent, Oversea-Chinese Banking Corporation tumbled 1.35 percent, SATS retreated 1.16 percent, Seatrium Limited sank 0.71 percent, Singapore Technologies Engineering slid 0.52 percent, SingTel and Thai Beverage both declined 0.85 percent, Wilmar International slumped 0.82 percent, Yangzijiang Financial surged 2.82 percent, Yangzijiang Shipbuilding jumped 1.17 percent and Emperador, Genting Singapore, CapitaLand Integrated Commercial Trust, CapitaLand Investment, City Developments and UOL Group were unchanged.
The lead from Wall Street suggests mild upside as the major averages opened in the green on Friday and spent all of the day in positive territory, although they ended well off session highs.
