Singapore Stock Market Climbs for Seventh Consecutive Day

In a recent report, the Singapore stock market continues its upward trend, gaining over 140 points in seven sessions. Investor optimism around interest rates and U.S. retail sales contributed to this positive wave, but uncertainty around demand remains.

Date: 18-09-2024

AI Rating: 6

The report indicates that the Singapore stock market has experienced a strong bullish trend, finishing higher for seven consecutive sessions.

The Straits Times Index (STI) closed at 3,593.42, marking an increase of 22.99 points or 0.64% for the day. A rise in financial shares, property stocks, and industrial issues propelled the index upward.

Despite the overall positive performance on the STI, specific companies like CapitaLand Integrated Commercial Trust are showing mixed results; it saw a decline of 0.46%, while others such as CapitaLand Investment rose by 2.41%. The variety of performance among these stocks suggests a selective investor interest.

The broader U.S. market's mixed response, particularly the Dow's slight decline and the NASDAQ's modest gain, points to a cautious sentiment preceding the Federal Reserve's monetary policy announcement. Optimism regarding interest rates reflects positively on market performance, but ongoing uncertainty about demand for oil, specifically from China, indicates potential volatility.

Despite some positive signals, the report states that increases in U.S. retail sales diminish the likelihood of substantial interest rate cuts, which may impact stock prices in the upcoming trading sessions. Investors should closely monitor the Federal Reserve's decisions as these could significantly influence market dynamics.

Stocks: DBS SATS SINGTEL