The Singapore stock market on Monday wrote a finish to the three-day winning streak in which it had advanced almost 70 points or 2.1 percent. The Straits Times Index now sits just above the 3,260-point plateau and it may continue to spin its wheels again on Tuesday.
The global forecast for the Asian markets is mixed and flat ahead of the Federal Reserve’s monetary policy announcement later this week. The European markets were down and the U.S. bourses were barely higher and the Asian markets figure to split the difference, RTTNews cited.
The STI finished modestly lower on Monday following losses from the financial shares and property stocks.
For the day, the index shed 17.30 points or 0.53 percent to finish at 3,263.39 after trading between 3,259.03 and 3,285.15.
Among the actives, Ascendas REIT sank 0.71 percent, while CapitaLand Investment stumbled 1.24 percent, City Developments surrendered 1.74 percent, DBS Group eased 0.03 percent, Emperador jumped 1.96 percent, Hongkong Land declined 1.41 percent, Keppel Corp tumbled 1.57 percent, Mapletree Pan Asia Commercial Trust shed 0.65 percent, Mapletree Industrial Trust added 0.43 percent, Mapletree Logistics Trust lost 0.58 percent, Oversea-Chinese Banking Corporation skidded 0.85 percent, SembCorp Industries fell 0.19 percent, Singapore Technologies Engineering slumped 1.02 percent, SingTel gained 0.42 percent, Thai Beverage plummeted 2.56 percent, Wilmar International dropped 0.79 percent, Yangzijiang Financial retreated 1.35 percent, Yangzijiang Shipbuilding rallied 1.19 percent and Genting Singapore, CapitaLand Integrated Commercial Trust, Comfort DelGro, SATS and Seatrium Limited were unchanged.
The lead from Wall Street offers little guidance as the major averages opened lower on Monday, bounced higher to spend most of the day in the green but faded late to end barely above the unchanged line.
