Singapore Stock Market Tipped To Open To The Upside On Monday

(RTTNews) - The Singapore stock market has finished higher in three straight sessions, gathering almost 40 points or 0.9 percent along the way. The Straits Times Index now sits just above the 4,520-point plateau and it's expected to see additional support again on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The STI finished modestly higher on Friday following gains from the financial shares and mixed performances from the property stocks and industrial issues.

For the day, the index added 14.62 points or 0.32 percent to finish at 4,523.96 after trading between 4,523.87 and 4,534.71.

Among the actives, CapitaLand Integrated Commercial Trust dropped 0.84 percent, while CapitaLand Investment added 0.38 percent, City Developments slumped 0.96 percent, DBS Group gained 0.37 percent, Genting Singapore rallied 0.66 percent, Hongkong Land shed 0.31 percent, Keppel DC REIT increased 0.43 percent, Keppel Ltd fell 0.19 percent, Mapletree Pan Asia Commercial Trust expanded 0.69 percent, Mapletree Industrial Trust advanced 0.49 percent, Mapletree Logistics Trust jumped 0.76 percent, Oversea-Chinese Banking Corporation surged 1.26 percent, SATS rose 0.29 percent, Seatrium Limited improved 0.47 percent, Singapore Technologies Engineering was up 0.24 percent, SingTel lost 0.21 percent, Thai Beverage soared 1.09 percent, United Overseas Bank collected 0.27 percent, UOL Group and Yangzijiang Shipbuilding both sank 0.59 percent, Wilmar International climbed 0.62 percent, Yangzijiang Financial stumbled 1.05 percent and SembCorp Industries, DFI Retail Group, Comfort DelGro and CapitaLand Ascendas REIT were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Friday and remained in the green throughout the day for a fifth straight session.

The Dow jumped 289.30 points or 0.61 percent to finish at 47,716.42, while the NASDAQ rallied 151.00 points or 0.65 percent to end at 23,365.69 and the S&P 500 climbed 36.48 points or 0.54 percent to close at 6,849.09.

For the holiday-shortened week, the NASDAQ spiked 4.9 percent, the S&P 500 jumped 3.7 percent and the Dow climbed 3.2 percent.

Renewed optimism about the outlook for interest rates has contributed to the recent rebound following dovish comments from leading Federal Reserve officials. CME Group's FedWatch Tool is currently indicating an 86.9 percent chance the central bank will cut rates by another quarter point at its December meeting.

Trading activity remained somewhat subdued, however, as some traders remained away from their desks following the Thanksgiving holiday.

Crude oil prices edged higher on Friday a proposed peace deal to end the Russia-Ukraine war remains in limbo. West Texas Intermediate crude for January delivery was up $0.18 or 0.31 percent at $58.83 per barrel.