The Singapore stock market is expected to stabilise after two consecutive days of losses that saw the Straits Times Index (STI) shed nearly 35 points or 0.9%. The index ended Tuesday at 3,712.39, down 19 points or 0.51%.

The session saw mixed performances across sectors, with CapitaLand Integrated Commercial Trust declining 0.51%, City Developments falling 1.14%, and DBS Group dropping 1.28%. Meanwhile, Genting Singapore gained 0.65%, Thai Beverage rose 1.89%, and Seatrium Limited added 1.04%. Other counters, including Mapletree Pan Asia Commercial Trust and Frasers Logistics & Commercial Trust, remained unchanged.

Global sentiment is expected to provide some support to the STI, as optimism grows regarding interest rate policies. Wall Street finished in positive territory, with the Dow rising 0.28%, the NASDAQ advancing 0.63%, and the S&P 500 gaining 0.57%. The Federal Reserve's minutes highlighted a preference for a gradual reduction in interest rates, contingent on favourable economic data and inflation trends.

Oil prices, however, fell slightly, with West Texas Intermediate Crude settling at US$68.77 per barrel, following reports of potential progress in ceasefire talks between Israel and Hezbollah.

Market participants will look for cues from global markets as the STI hovers near the 3,700-point support level.

RTTNews