FX.co ★ Singapore Shares Likely To Reverse Wednesday's Losses

### Singapore Stock Market Ends Winning Streak - Eye on Renewed Support

The Singapore stock market concluded a four-day winning streak on Wednesday, during which it had gained nearly 50 points or 1.5 percent. The Straits Times Index (STI) now sits just below the 3,290 mark but is anticipated to find renewed support on Thursday.

#### Global Market Outlook

The global forecast for Asian markets is positive, driven by rising optimism about future interest rates. With both European and U.S. markets showing gains, Asian bourses are expected to follow this upward trend.

#### Market Performance

On Wednesday, the STI closed modestly lower due to losses in financial, property, and industrial shares.

- **STI Performance**: The index lost 23.93 points, or 0.72 percent, closing at 3,289.42 after trading between 3,285.45 and 3,309.42.

#### Key Movements

- **City Developments**: Decreased by 2.19%

- **Comfort DelGro**: Fell by 2.08%

- **DBS Group**: Declined by 0.42%

- **Emperador**: Dropped 2.30%

- **Genting Singapore**: Down by 0.54%

- **Hongkong Land**: Slid 1.45%

- **Keppel DC REIT**: Fell 1.15%

- **SATS**: Decreased by 1.15%

- **Keppel Ltd**: Down 1.47%

- **Mapletree Pan Asia Commercial Trust**: Declined by 1.61%

- **Mapletree Logistics Trust**: Plunged 3.68%

- **Oversea-Chinese Banking Corporation**: Dipped 0.35%

- **Seatrium Limited**: Plummeted 11.67%

- **SembCorp Industries**: Shed 0.75%

- **Thai Beverage**: Sank 0.99%

- **Wilmar International**: Lost 0.62%

- **Yangzijiang Financial**: Slumped 1.56%

- **Yangzijiang Shipbuilding**: Added 0.57%

- **Unchanged Stocks**: CapitaLand Integrated Commercial Trust, CapitaLand Investment, Singapore Technologies Engineering, SingTel, Mapletree Industrial Trust

#### Wall Street Influence

Wall Street presented a robust lead as major averages opened higher and maintained gains throughout the session, closing near their daily highs.

- **Dow Jones**: Rallied by 349.89 points or 0.88 percent, ending at 39,908.00.

- **NASDAQ**: Spiked 231.21 points or 1.40 percent, finishing at 16,742.29.

- **S&P 500**: Jumped 61.47 points or 1.17 percent, closing at 5,308.15.

#### Economic Insights

The rally on Wall Street was bolstered by a Labor Department report indicating that consumer prices in the U.S. rose slightly less than expected in April. Following another report of hotter-than-anticipated producer price inflation, this data contributed to a renewed optimism regarding the outlook for interest rates.

Additionally, the Commerce Department reported that U.S. retail sales remained flat in April, contrary to forecasts predicting a 0.4 percent increase.

#### Crude Oil Markets

Crude oil prices saw an uplift on Wednesday, supported by lower-than-expected inflation data and a report indicating a larger-than-expected drop in U.S. crude inventories last week. West Texas Intermediate crude oil futures for June rose by $0.61 or 0.78 percent, closing at $78.63 per barrel.