Singapore Shares May Take Further Damage On Friday

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(RTTNews) - The Singapore stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had picked up more than 20 points or 0.6 percent. The Straits Times Index now sits just above the 3,585-point plateau and it may extend Thursday's losses on Friday.
The global forecast for the Asian markets is soft on ebbing optimism over the outlook for interest rates. The European and U.S. markets finished slightly lower and the Asian bourses are expected to follow that lead.
The STI finished modestly lower on Thursday following losses from the industrials and mixed performances from the financials and properties.
For the day, the index sank 10.37 points or 0.29 percent to finish at 3,585.29 after trading between 3,578.48 and 3,620.78.
Among the actives, CapitaLand Integrated Commercial Trust plunged 1.42 percent, while City Developments shed 0.38 percent, Comfort DelGro and Mapletree Pan Asia Commercial Trust both tanked 1.36 percent, DBS Group and Keppel Ltd both fell 0.15 percent, Hongkong Land added 0.25 percent, Keppel DC REIT soared 2.30 percent, Mapletree Logistics Trust dropped 0.70 percent, Oversea-Chinese Banking Corporation lost 0.33 percent, SATS jumped 0.80 percent, Seatrium Limited slumped 0.98 percent, SembCorp Industries tumbled 1.09 percent, Singapore Technologies Engineering skidded 0.85 percent, SingTel sank 0.63 percent, Wilmar International advanced 0.60 percent, Yangzijiang Financial rallied 1.23 percent, Yangzijiang Shipbuilding plummeted 2.75 percent and Emperador, Genting Singapore, CapitaLand Investment, Thai Beverage, Mapletree Industrial Trust, DFI Retail Group and Frasers Centrepoint Trust were unchanged.
The lead from Wall Street suggests mild consolidation as the major averages opened slightly under water on Thursday and pretty much stayed that way throughout the session.
The Dow shed 57.88 points or 0.14 percent to finish at 42,454.12, while the NASDAQ dipped 9.57 points or 0.05 percent to close at 18,282.05 and the S&P 500 sank 11.99 points or 0.21 percent to end at 5,780.05.
The modest weakness on Wall Street followed the release of a highly anticipated Labor Department report showing consumer prices in the U.S. increased by slightly more than expected in the month of September.
The bigger than expected increase by consumer prices further offset optimism that the Federal Reserve will continue to aggressively lower interest rates in the coming months.
Negative sentiment was also generated in reaction to a separate Labor Department report showing first-time claims for U.S. unemployment benefits increased by much more than expected last week.
Oil prices rose sharply on Thursday as worries about escalating tensions in the Middle East outweighed uncertainty about the outlook for demand. West Texas Intermediate Crude oil futures for November ended higher by $2.61 or about 3.56 percent at $75.85 a barrel.

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