(RTTNews) - The Singapore stock market has moved lower in four straight sessions, sinking more than 20 points or 0.4 percent in that span. The Straits Times Index now sits just beneath the 4,570-point plateau although it may stop the bleeding on Monday.
The global forecast for the Asian markets is positive, with technology and oil stocks expected to lead the markets higher. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The STI finished barely lower on Friday following losses from the industrials, gains from the properties and a mixed picture from the financial sector.
For the day, the index dipped 0.83 points or 0.02 percent to finish at 4,569.78 after trading between 4,567.77 and 4,587.64.
Among the actives, CapitaLand Ascendas REIT rallied 0.72 percent, while CapitaLand Integrated Commercial Trust gained 0.43 percent, CapitaLand Investment soared 1.89 percent, City Developments surged 4.04 percent, Comfort DelGro and Genting Singapore both expanded 0.70 percent, DBS Group and Keppel DC REIT both dropped 0.45 percent, DFI Retail Group lost 0.25 percent, Hongkong Land was up 0.14 percent, Keppel Ltd sank 0.30 percent, Mapletree Industrial Trust added 0.49 percent, Oversea-Chinese Banking Corporation collected 0.26 percent, SATS shed 0.27 percent, SembCorp Industries slumped 0.51 percent, Singapore Technologies Engineering perked 0.12 percent, SingTel rose 0.22 percent, Thai Beverage retreated 1.08 percent, United Overseas Bank eased 0.09 percent, UOL Group spiked 1.88 percent, Wilmar International improved 0.66 percent, Yangzijiang Shipbuilding stumbled 2.88 percent and Yangzijiang Financial, Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust and Seatrium Limited were unchanged.
The lead from Wall Street is solid as the major averages opened firmly higher on Friday and remained in the green throughout the trading day.
The Dow jumped 183.04 points or 0.38 percent to finish at 48,134.89, while the NASDAQ rallied 301.26 points or 1.31 percent to end at 23,307.62 and the S&P 500 gained 59.74 points or 0.88 percent to close at 6,834.50.
For the week, the Dow slid 0.7 percent, the NASDAQ added 0.5 percent and the S&P 500 rose 0.1 percent.
The continued strength on Wall Street came amid sharp gains from the technology shares thanks to solid earnings news and easing concerns of a tech bubble.
In U.S. economic news, the National Association of Realtors reported a modest increase by existing home sales in the U.S. in November. Also, the University of Michigan said consumer sentiment in the U.S. rebounded less than expected in December.
Crude oil increased on Friday amid concerns of a supply side disruption due to brewing U.S.-Venezuela tensions. West Texas Intermediate crude for January delivery was up by $0.47 or 0.84 percent at $56.62 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
