The Singapore stock market, represented by the Straits Times Index (STI), has declined for four consecutive sessions, losing nearly 100 points or 2.8% to settle at 3,719.93 on Friday. Despite the downturn, the STI may find traction on Monday, driven by a cautiously optimistic global outlook on interest rates.
Friday's session saw notable losses across financials, property, and industrial stocks. Major decliners included DBS Group (-1.34%), Oversea-Chinese Banking Corporation (-1.74%), and Keppel Ltd (-0.74%). Conversely, ComfortDelGro gained 1.39%, and Mapletree Pan Asia Commercial Trust advanced 0.84%.
The improved sentiment follows a Wall Street rally spurred by softer-than-expected US personal consumption expenditures (PCE) data, easing inflation concerns and boosting confidence in stabilising interest rates.
Investors will also watch Singapore's November consumer price data for further direction. October figures showed a 1.4% annual increase in overall inflation and a 2.1% rise in core CPI.
RTTNews
