The Singapore stock market showed signs of recovery on Thursday, halting a two-day slide that had seen the Straits Times Index (STI) slip by just 5 points or 0.15%. The STI now stands slightly above the 3,625-point level and is anticipated to see mild gains in the upcoming trading session on Friday.
Global market trends suggest a modest upside, supported by positive earnings and economic news. European markets ended higher, while US markets closed mixed and flat, leaving Asian markets likely to experience a similar mild uptrend.
On Thursday, the STI advanced by 34.63 points, or 0.96%, to close at 3,625.25 after fluctuating between 3,608.09 and 3,633.14 throughout the day. Gains were led by financial and property stocks, while industrial stocks were mixed.
Among the active stocks, CapitaLand Investment increased by 1.01%, City Developments rose 0.38%, ComfortDelGro gained 0.69%, DBS Group jumped 1.33%, and Oversea-Chinese Banking Corporation climbed 1.06%. SATS soared 2.18%, while SingTel surged 2.52%. Conversely, Keppel DC REIT and Seatrium Limited fell 0.89% and 1.49%, respectively.
Looking forward, the positive market sentiment is expected to persist, supported by favourable global earnings reports and stabilising economic conditions. However, mixed performance across sectors could result in continued volatility in the Singapore stock market.
RTTNews
