The Singapore stock market, which has gained for two straight sessions, adding over 35 points or 0.9%, may face resistance on Tuesday as profit-taking sets in before the year's close.
The Straits Times Index (STI) ended Monday at 3,795.73, just shy of the 3,800-point mark, after a 24.10-point or 0.64% rise.
RHB Research noted gains across financial, property, and industrial stocks, with active counters including CapitaLand Investment (+1.53%), Yangzijiang Financial (+2.44%), and SembCorp Industries (+1.65%).
Global cues suggest a softer market, as Wall Street posted losses on Monday due to profit-taking and low trading volumes. The Dow fell 418.48 points (-0.97%), while the NASDAQ dropped 235.25 points (-1.19%), driven by declines in technology and semiconductor stocks.
Oil prices, however, rose to a five-week high, with February WTI crude futures up 0.6% at US$70.99 per barrel, supported by reduced US inventories and expected demand from China.
The STI is expected to remain cautious, mirroring broader Asian markets.
RTTNews
