Higher Open Predicted For Singapore Stock Market
By RTTNewsFebruary 11, 2018 | 07:00PMPhoto: Shutterstock
(RTTNews.com) - The Singapore stock market turned lower again on Friday, one session after it had snapped the four-day losing streak in which it had surrendered more than 150 points or 4.5 percent. The Straits Times Index now rests just above the 3,375-point plateau although the market may find support on Monday.
The global forecast for the Asian markets is firm, with bargain hunting expected after heavy damage last week. The European markets were down and the U.S. bourses were up - and the Asian markets figure to follow the latter lead.
The STI finished sharply lower on Friday following losses from the financials, properties, plantations and industrials.
For the day, the index skidded 38.66 points or 1.13 percent to finish at 3,377.24 after trading between 3,340.55 and 3,382.66. Volume was 2.54 billion shares worth 1.96 billion Singapore dollars. There were 448 decliners and 85 gainers.
Among the actives, Yangzijiang Shipbuilding plummeted 4.79 percent, while Hutchison Port Holdings plunged 4.49 percent, City Developments tumbled 3.69 percent, Genting Singapore skidded 3.20 percent, Keppel Corp dropped 3.19 percent, CapitaLand surrendered 3.07 percent, Golden Agri-Resources shed 2.74 percent, CapitaLand Commercial Trust lost 1.71 percent, Comfort DelGro was down 1.48 percent, Wilmar International slid 1.32 percent, SembCorp Industries dipped 1.21 percent, United Overseas Bank gave away 1.09 percent, SingTel fell 0.59 perce....