The Singapore stock market is expected to continue its upward trend, following two consecutive days of gains that have added nearly 50 points or 1.4%. The Straits Times Index (STI) currently stands just above the 3,640-point mark and is poised to extend its winning streak on Monday, driven by a positive global market outlook.
The global forecast for Asian markets, including Singapore, remains optimistic, supported by strong earnings reports from the U.S. markets and mixed performance in Europe. On Friday, the STI saw modest gains, climbing 14.94 points or 0.41% to close at 3,640.19. The day's trading was bolstered by gains in financial and property stocks.
Key movers included CapitaLand Integrated Commercial Trust, which spiked 1.44%, and City Developments, which rose 0.95%. Other notable performers were DBS Group, which gained 0.46%, and Oversea-Chinese Banking Corporation, advancing 0.92%. However, ComfortDelGro and Genting Singapore recorded declines of 0.68% and 0.59% respectively.
The positive lead from Wall Street further supports the upbeat outlook for the Singapore market. Major U.S. indices ended the week on a high, with the Dow Jones Industrial Average adding 36.86 points or 0.09%, while the NASDAQ and S&P 500 climbed 0.63% and 0.40% respectively.
With global sentiment remaining largely positive, analysts predict further gains for the STI in the upcoming trading sessions.
RTTNews
