The Straits Times Index (STI) closed lower on Monday, declining 14.63 points or 0.39% to end at 3,731.39. This dip came after a mixed performance from financials, property, and industrial stocks, leaving the STI just above the 3,730-point threshold. Market observers are optimistic about a recovery on Tuesday, following positive cues from European and US markets.

Monday's session saw notable movements among active counters. Keppel DC REIT surged 7.21%, while Mapletree Logistics Trust and City Developments advanced 3.20% and 2.33%, respectively. CapitaLand Integrated Commercial Trust and Mapletree Pan Asia Commercial Trust also saw gains. In contrast, Singapore Technologies Engineering and Yangzijiang Shipbuilding recorded significant losses of 2.14% and 2.23%, respectively.

Global sentiment is bolstered by optimism surrounding economic stability as markets digest the news of Scott Bessent's nomination for US Treasury Secretary. Seen as a market-friendly choice, Bessent's gradual approach to tariff implementation has tempered inflationary concerns, boosting investor confidence.

Meanwhile, oil prices remain a limiting factor, with West Texas Intermediate crude futures dropping 3.2% to US$68.94 per barrel amid speculation of an impending ceasefire between Israel and Hezbollah.

Closer to home, Singapore is set to release October's industrial production data, following September's flat month-on-month growth and a 9.8% year-on-year increase. Investors are keenly watching these figures for further clarity on the city-state's economic trajectory.

The STI's performance on Tuesday will reflect both domestic updates and the broader global sentiment.

RTTNews