(RTTNews) – The Singapore stock market headed south again on Wednesday, 1 day after it had finished the two-day slide where it had dropped greater than 35 points or 1.4 percent. The Straits Times Index currently rests just under the two,575-point plateau even though it figures to rebound higher back on Thursday.
The international prediction for its Asian markets is optimistic on strong earnings news and financial information. The European markets have been mixed and the U.S. bourses moved bigger along with also the Asian markets are expected to stick to the latter direct.
The STI finished significantly lower on Wednesday after losses from the fiscal stocks and property stocks.
For the afternoon, the indicator drop 9.52 0 or points.37 per cent to finish at two,573.45 after trading involving two,564.46 and two,586.16. Volume was 1.33 billion shares worth 1.29 billion Singapore dollars. There were 215 decliners and 185 gainers.
Among the actives, Singapore Press Holdings plummeted 5.17 percent, while Venture Corporation surged 3.58 percent, Wilmar International soared 3.37 percent, CapitaLand Mall Trust plunged 2.96 percent, CapitaLand Commercial Trust tanked 2.89 percent, Yangzijiang Shipbuilding spiked 1.64 percent, Mapletree Logistics Trust accelerated 1.42 percent, Genting Singapore and Hongkong Land both tumbled 1.33 percent, Singapore Airlines skidded 1.12 percent, Mapletree Commercial Trust retreated 1.04 percent, Singapore Exchange declined -.96 percent, Ascendas REIT jumped 0.85 percent, Thai Beverage surrendered 0.79 percent, Oversea-Chinese Banking Corporation sank 0.78 percent, Comfort DelGro dropped 0.74 percent, SATS and CapitaLand both shed 0.72 percent, DBS Group lost 0.49 percent, City Developments advanced 0.49 percent, United Overseas Bank fell 0.45 percent, SingTel slid 0.40 percent, Keppel Corp eased 0.36 percent, Dairy Farm International rose 0.24 percent and Singapore Technologies Engineering and SembCorp Industries were unchanged.
The lead from Wall Street is positive as stocks opened higher on Wednesday and picked up steam as the day progressed.
The Dow added 160.29 points or 0.61 percent to finish at 26,539.57, while the NASDAQ spiked 140.85 points or 1.35 percent to end at 10,542.94 and the S&P 500 rose 40.00 points or 1.24 percent to close at 3,258.44.
Early buying interest was partly generated by the latest batch of earnings news, with a number of big-name companies reporting better than expected quarterly results including Advanced Micro Devices (AMD) and C. ) H. Robinson (CHRW).
The strength on Wall Street also reflected a report from the National Association of Realtors showing another significant increase in pending home sales in June.
Stocks saw continued strength after the Federal Reserve announced its widely expected decision to leave interest rates at near-zero levels amid the economic hardship imposed by the coronavirus pandemic.
Crude oil prices moved higher on Wednesday after data showed a larger than expected decline in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for September ended up $0.23 or 0.6 percentage at $41.27 a barrel.
Closer to home, Singapore will see Q2 results for its business confidence index later today; in the previous three months, the index score was -56..
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