The Singapore stock market has experienced a downward trend over the past four sessions, shedding nearly 100 points or approximately 2.6%. Currently, the Straits Times Index hovers just below the 3,790 threshold, although a slight upward movement is anticipated on Wednesday.
The outlook for Asian markets remains unclear due to mixed signals regarding interest rate expectations. European and U.S. markets displayed little overall movement, suggesting that Asian markets may follow suit.
On Tuesday, the STI marginally decreased, with losses in financial, REIT, and property sectors partially offset by gains in the industrial sector. The index fell by 2.93 points, or 0.08%, closing at 3,788.77, after fluctuating between 3,779.01 and 3,791.35 throughout the trading day.
Performance among various stocks showed CapitaLand Integrated Commercial Trust dropping 1.55%, while CapitaLand Investment rose by 0.41%. City Developments dipped 0.20%, DBS Group went down by 0.39%, Genting Singapore increased 0.68%, and Hongkong Land fell by 0.93%. Keppel DC REIT plunged 2.74%, whereas Keppel Ltd increased by 1.04%. Mapletree Pan Asia Commercial Trust decreased by 0.83%, and Mapletree Industrial Trust declined by 0.45%. Both Mapletree Logistics Trust and Venture Corporation slipped 0.79%, Oversea-Chinese Banking Corporation lost 0.29%, SATS improved by 0.84%, Seatrium Limited rose by 0.46%, and SembCorp Industries decreased by 0.36%. Singapore Technologies Engineering gained 0.65%, SingTel fell 0.32%, Thai Beverage advanced by 0.93%, Wilmar International surged 1.66%, Yangzijiang Financial rallied by 1.20%, and Yangzijiang Shipbuilding jumped 4.07%. Emperador, Comfort DelGro, and UOL Group remained unchanged.
Wall Street provided minimal direction as the major averages began Tuesday on a positive note but quickly lost momentum, ending with mixed outcomes. The Dow Jones rose by 221.16 points or 0.52% to close at 42,518.28, the NASDAQ declined by 43.71 points or 0.23% to finish at 19,044.39, and the S&P 500 edged up by 6.69 points or 0.11% to conclude at 5,842.91.
Initial gains on Wall Street were driven by a Labor Department report indicating that producer prices increased slightly less than anticipated for December. This muted rise in producer prices eased some recent anxiety over inflation and interest rates, although faster annual growth continued to limit buying enthusiasm.
Investors may have been cautious ahead of an upcoming report on consumer price inflation, which holds significant interest this week.
Oil prices retreated from five-month highs on Tuesday, as investors contemplated the potential effects of former President Donald Trump’s proposed import tariffs. West Texas Intermediate crude oil futures for February settled down by $1.32, or about 1.67%, at $77.50 a barrel.
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