On Thursday, the Singapore stock market concluded a five-day winning streak during which it gained over 100 points, equivalent to a 1.5 percent increase. The Straits Times Index is now situated just above the 3,860 mark, with expectations to linger in that vicinity on Friday.
The global forecast for Asian markets remains unclear due to the closure of U.S. markets on Thursday. European markets showed slight upward momentum, and Asian markets are anticipated to follow this trend.
The STI experienced a modest decline on Thursday, driven by losses in financial stocks, REITs, and property shares, while industrials displayed mixed results.
The index decreased by 24.38 points, or 0.63 percent, to close at 3,862.60, fluctuating between 3,853.35 and 3,880.17 throughout the day.
In trading activity, CapitaLand Investment and Yangzijiang Financial both decreased by 1.20 percent, City Developments fell 0.58 percent, Comfort DelGro declined 1.37 percent, DBS Group dropped 0.97 percent, and Genting Singapore saw a significant drop of 2.56 percent. Other notable movements included Hongkong Land easing 0.46 percent, Keppel DC REIT rising 0.90 percent, both Keppel Ltd and Frasers Logistics declining 0.57 percent, Mapletree Pan Asia Commercial Trust climbing 0.83 percent, Mapletree Industrial Trust dipping 0.44 percent, and Mapletree Logistics Trust decreasing by 1.56 percent. Oversea-Chinese Banking Corporation ticked down by 0.28 percent, SATS dropped 1.09 percent, Seatrium Limited fell 1.34 percent, SembCorp Industries slightly increased by 0.18 percent, Singapore Technologies Engineering dipped 0.43 percent, SingTel dropped 0.32 percent, Thai Beverage declined 0.89 percent, Wilmar International retreated 0.33 percent, while Yangzijiang Shipbuilding increased 0.97 percent. CapitaLand Integrated Commercial Trust, Emperador, DFI Retail Group, and Frasers Centrepoint Trust remained unchanged.
There was no guidance from Wall Street as U.S. financial markets were closed on Thursday in recognition of former U.S. President Jimmy Carter, who passed away at the age of 100 in late December.
Investors are turning their attention to the Labor Department's upcoming monthly jobs report, expected later today, which may offer further insight into the labor market's health.
Oil prices saw an uptick on Thursday, driven by optimism regarding global oil demand and potential supply constraints stemming from sanctions on Iranian and Russian crude exports. West Texas Intermediate crude oil futures for February concluded with a gain of $0.60, or 0.82 percent, reaching $73.92 per barrel.
The material has been provided by InstaForex Company -
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