The Singapore stock market is poised for potential recovery on Tuesday after two consecutive sessions of declines, which saw the Straits Times Index (STI) slip by more than 20 points, or 0.6 percent, settling just below the 3,585-point mark. This cautious optimism comes as global markets, particularly in Europe and the United States, reported gains, buoyed by a steep drop in oil prices. On Monday, oil prices fell sharply following eased concerns over supply disruptions as Israel refrained from targeting Iranian oil facilities, sending West Texas Intermediate crude futures down by 6.1 percent to US$67.38 per barrel.
The STI ended Monday's session with a modest drop, losing 9.33 points, or 0.26 percent, to close at 3,584.08. Trading was mixed across sectors, with industrials posting losses and financials and property stocks showing varied performances. Among active stocks, CapitaLand Integrated Commercial Trust rose by 1.48 percent, while CapitaLand Investment declined by 0.70 percent. City Developments shed 0.58 percent, while Comfort DelGro advanced 0.69 percent. Other notable movements included DBS Group's slight dip of 0.18 percent and Keppel Ltd's loss of 0.46 percent.
Several Singapore-listed companies experienced sharper declines: SATS tumbled 1.50 percent, Seatrium Limited fell 2.06 percent, and SembCorp Industries dropped 1.14 percent. On the upside, Yangzijiang Financial gained 1.23 percent, while Yangzijiang Shipbuilding dropped by 1.56 percent.
The outlook for the Singapore stock market could be influenced by upcoming economic data from the United States, including reports on personal income, spending, and the Federal Reserve's preferred inflation metrics. These figures are expected to impact investor sentiment and expectations for interest rate adjustments by the Federal Reserve.
RTTNews
