Singapore Shares Tipped To Open In The Green

(RTTNews) - The Singapore stock market on Wednesday wrote a finish to the three-day losing streak in which it had slumped more than 70 points or 1.5 percent. The Straits Times Index now sits just above the 4,500-point plateau and it may pick up speed on Thursday.

The global forecast for the Asian markets is upbeat, with better-than-expected earnings news from AI darling Nvidia (NVDA) expected to fuel the markets. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The STI finished barely higher on Wednesday following gains from the properties and mixed performances from the financials and industrials.

For the day, the index perked 0.55 points or 0.01 percent to finish at 4,505.22 after trading between 4,493.36 and 4,519.72.

Among the actives, CapitaLand Ascendas REIT added 0.36 percent, while CapitaLand Integrated Commercial Trust jumped 0.86 percent, City Developments rose 0.28 percent, DBS Group perked 0.04 percent, DFI Retail Group tanked 1.44 percent, Genting Singapore stumbled 2.60 percent, Hongkong Land climbed 0.80 percent, Keppel DC REIT retreated 1.28 percent, Keppel Ltd and Singapore Technologies Engineering both expanded 0.70 percent, Mapletree Industrial Trust spiked 0.99 percent, Mapletree Logistics Trust advanced 0.78 percent, Oversea-Chinese Banking Corporation dropped 0.49 percent, Seatrium Limited rallied 0.95 percent, SembCorp Industries slumped 1.26 percent, SingTel fell 0.21 percent, United Overseas Bank skidded 0.56 percent, Wilmar International gained 0.30 percent, Yangzijiang Financial surged 3.13 percent, Yangzijiang Shipbuilding soared 2.76 percent andThai Beverage, Mapletree Pan Asia Commercial Trust, CapitaLand Investment, UOL Group, SATS, Comfort DelGro and Frasers Logistics & Commercial Trust were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened higher on Wednesday and hugged the line for most of the day before ending with modest gains.

The Dow added 47.03 points or 0.10 percent to finish at 46,138.77, while the NASDAQ jumped 131.38 points or 0.59 percent to end at 22,564.23 and the S&P 500 gained 24.84 points or 0.38 percent to close at 6,642.16.

The early strength on Wall Street came as traders looked to pick up stocks at reduced levels following the significant weakness of the past few sessions. The major averages slumped to their lowest closing levels in a month on Tuesday on lingering concerns about a potential AI bubble.

Buying interest waned over the course of the session, however, as traders looked ahead to the release of earnings news Nvidia after the close of Wednesday's trading.

Stocks continued to show a lack of direction after the minutes of the Federal Reserve's latest monetary policy meeting revealed officials had mixed views about the outlook for interest rates.

Crude oil tumbled on Wednesday, with various data points reinforcing oversupply concerns. West Texas Intermediate crude for December delivery was down $1.22 or 2.01 percent at $59.52 per barrel.