The Singapore stock market has moved higher in three straight sessions, gathering almost 70 points or 2.1 percent along the way. The Straits Times Index now sits just above the 3,280-point plateau although the rally may stall on Monday.
The global forecast for the Asian markets is mixed to lower on renewed concerns over the outlook for interest rates. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead, RTTNews cited.
The STI finished modestly higher on Friday following gains from the financial shares, property stocks and industrial issues.
For the day, the index advanced 31.18 points or 0.96 percent to finish at 3,280.69 after trading between 3,259.35 and 3,289.07.
Among the actives, Ascendas REIT added 1.07 percent, while CapitaLand Integrated Commercial Trust rallied 2.11 percent, CapitaLand Investment jumped1.90 percent, City Developments spiked 2.37 percent, DBS Group perked 0.44 percent, Emperador stumbled 0.97 percent, Hongkong Land rose 0.85 percent, Keppel Corp accelerated 2.34 percent, Mapletree Pan Asia Commercial Trust soared 2.68 percent, Mapletree Industrial Trust climbed 1.32 percent, Mapletree Logistics Trust strengthened 1.78 percent, Oversea-Chinese Banking Corporation collected 1.57 percent, SATS advanced 1.17 percent, Seatrium Limited was up 0.73 percent, SembCorp Industries and DFI Retail both increased 1.56 percent, Singapore Technologies Engineering gained 1.03 percent, SingTel improved 1.69 percent, Thai Beverage slumped 0.85 percent, Wilmar International gathered 0.80 percent, Yangzijiang Financial surged 2.78 percent, Yangzijiang Shipbuilding dropped 0.59 percent and Comfort DelGro, Genting Singapore and Frasers Logistics were unchanged.
The lead from Wall Street is weak as the major averages opened lower on Friday and worsened as the day progressed, ending near session lows.