The Singapore stock market's recent five-day winning streak may take a breather today, with investors expected to lock in profits after an impressive rally. Over the past week, the Straits Times Index (STI) gained nearly 170 points or 4.7%, pushing above the 3,720 mark. On Friday, the STI rose by 50.88 points, or 1.39%, to close at 3,724.37, fuelled by gains in financials and plantations, while industrials and trusts showed mixed performance.
The global outlook for Asian markets is mixed, following declines in Europe and modest gains in the US after the recent US election and Federal Reserve interest rate decision. The Fed's recent quarter-point rate cut, alongside optimism around former President Donald Trump's election victory, which markets view as pro-business, have boosted US markets.
Notable stock moves in Singapore on Friday included DBS Group, which jumped 1.68%, SingTel, up 1.56%, and Yangzijiang Shipbuilding, surging 3.88%. However, Genting Singapore fell 5.95%, and SATS declined by 3.27%. Oil prices also dipped, with West Texas Intermediate crude down 2.7% to S$70.38 per .
RTTNews
