In recent trading sessions, the Singapore stock market has experienced a positive trajectory, advancing nearly 35 points, equating to a 0.9 percent increase. The Straits Times Index (STI) currently hovers just over the 3,820 mark, with expectations of further gains as market activity resumes on Tuesday.
Globally, optimism prevails across Asian markets, driven by anticipated advancements in technology stocks. Following predominantly positive outcomes in the European and U.S. markets, it is anticipated that Asian exchanges will mirror this upward trend.
On Monday, the STI concluded with a modest rise, fueled by strength in financial and industrial sectors, while property stocks showed some weakness. Specifically, the index marked an increase of 20.01 points or 0.53 percent, closing at 3,821.84, having traded between a range of 3,805.50 and 3,826.82.
In terms of individual performances, CapitaLand Integrated Commercial Trust saw a 1.02 percent rise, even as CapitaLand Investment decreased by 1.49 percent. Comfort DelGro experienced a decline of 1.35 percent, while DBS Group enjoyed a 0.76 percent increase. Emperador fell by 1.18 percent, whereas Genting Singapore rallied with a 1.31 percent gain. Further movements included Hongkong Land's 0.45 percent drop, Keppel Ltd's 1.74 percent surge, Mapletree Industrial Trust's 0.44 percent increase, and Mapletree Logistics Trust's 0.77 percent advancement. Oversea-Chinese Banking Corporation saw a notable rise of 1.33 percent, Seatrium Limited improved by 0.46 percent, and SembCorp Industries slipped by 0.36 percent. Singapore Technologies Engineering added 0.43 percent, SingTel saw a 0.32 percent reduction, Thai Beverage declined by 0.88 percent, Yangzijiang Financial strengthened by 1.22 percent, Yangzijiang Shipbuilding increased by 0.34 percent. City Developments, SATS, Wilmar International, Mapletree Pan Asia Commercial Trust, and Keppel DC REIT remained unchanged.
Wall Street provided a largely optimistic lead, as major averages commenced the week on a high note, although the Dow Jones slipped slightly into negative territory by the close.
Specifically, the Dow Jones Industrial Average decreased by 25.57 points or 0.06 percent, ending at 42,706.56. Meanwhile, the NASDAQ Composite surged 243.30 points or 1.24 percent, closing at 19,864.98, and the S&P 500 climbed 32.91 points or 0.55 percent, finishing at 5,975.38.
The initial surge on Wall Street was bolstered by ongoing strength in technology stocks, following Foxconn's report of record fourth-quarter revenues driven by robust demand for AI servers.
Additionally, market sentiment was lifted by reports indicating that President-elect Donald Trump might reconsider the scope of his proposed tariff policies.
On the commodities front, crude oil prices failed to sustain their early gains on Monday, breaking a five-day winning streak. However, the decline was limited following Saudi Arabia's decision to raise prices for Asian buyers, the first such move in three months. West Texas Intermediate Crude for February delivery decreased by $0.46 or 0.5 percent, settling at $73.50 per barrel.
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