The Singapore stock market is expected to remain rangebound on Friday after a slight pullback on Thursday, which ended a five-day winning streak that had seen the Straits Times Index (STI) gain over 100 points or 1.5%. The index currently sits just above the 3,860-point level.
Thursday's session saw the STI shed 24.38 points or 0.63% to close at 3,862.60, with losses observed in financials, real estate investment trusts (REITs), and property stocks, while industrials delivered a mixed performance. Key movements included CapitaLand Investment and Yangzijiang Financial, which dropped 1.20%, and Genting Singapore, which plummeted 2.56%. Other notable decliners included DBS Group, down 0.97%, and Mapletree Logistics Trust, which plunged 1.56%. On the upside, Keppel DC REIT advanced 0.90%, and Mapletree Pan Asia Commercial Trust gained 0.83%.
Globally, the forecast for Asian markets is uncertain, with US markets closed on Thursday in observance of former President Jimmy Carter's passing. European markets exhibited slight upward momentum, which could influence Asian bourses, including Singapore.
RTTNews
