FX.co ★ Singapore Stock Market Expected To Stay Rangebound

### Singapore Stock Market Sees Modest Gains; Future Remains Uncertain

**Singapore** – On Friday, the Singapore stock market experienced a rebound, following a brief interruption in its two-day winning streak that had added nearly 5 points or 0.2 percent. The Straits Times Index (STI) now hovers just above the 3,305-point mark, but expectations suggest it may relinquish those gains on Monday.

#### Global Market Outlook

The forecast for Asian markets remains lackluster, with oil and technology stocks anticipated to exert downward pressure. European markets closed in the red, while U.S. exchanges ended mixed and flat, projecting a divided trend for Asian markets.

#### Local Market Performance

The STI closed slightly higher on Friday, as advances in property and industrial sectors were offset by weaknesses in financial stocks. The index gained 6.02 points or 0.18 percent to end at 3,396.02, trading between 3,302.03 and 3,314.07 throughout the day.

**Key Movers:**

- **CapitaLand Integrated Commercial Trust** and **Frasers Logistics** both gained 0.52 percent.

- **CapitaLand Investment** increased by 0.75 percent.

- **City Developments** rose by 0.57 percent.

- **Comfort DelGro** surged 2.24 percent.

- **DBS Group** saw a slight decline of 0.06 percent.

- **Emperador** fell 1.15 percent.

- **Genting Singapore** rallied 1.15 percent.

- **Hongkong Land** climbed 1.24 percent.

- **Keppel DC REIT** dropped 0.56 percent.

- **Keppel Ltd** inched up 0.31 percent.

- **Mapletree Pan Asia Commercial Trust** added 0.83 percent.

- **Mapletree Industrial Trust** decreased 0.47 percent.

- **Mapletree Logistics Trust** retreated 1.52 percent.

- **Oversea-Chinese Banking Corporation** dipped 0.21 percent.

- **Seatrium Limited** plunged 1.94 percent.

- **SembCorp Industries** jumped 1.41 percent.

- **Singapore Technologies Engineering** increased 1.00 percent.

- **SingTel** rose 0.38 percent.

- **Thai Beverage** strengthened 1.08 percent.

- **Wilmar International** advanced 0.97 percent.

- **Yangzijiang Financial** soared 1.45 percent.

- **Yangzijiang Shipbuilding** climbed 1.22 percent.

- **SATS** remained unchanged.

#### Wall Street Wrap-Up

Wall Street ended the week on a subdued note, with the major indices opening lower and closing mixed. The Dow added 15.53 points or 0.04 percent to close at 39,150.33. The NASDAQ declined 32.24 points or 0.18 percent to 17,689.36, and the S&P 500 dipped 8.55 points or 0.16 percent to 5,464.62.

For the shortened holiday week, the Dow rose 1.5 percent, and the S&P 500 climbed 0.6 percent, while the NASDAQ remained nearly unchanged.

The choppy trading on Wall Street was partially due to traders evaluating recent market activity, which witnessed the NASDAQ and S&P 500 hitting new intraday highs before turning lower. Shares of Nvidia (NVDA), a significant driver in the tech sector, fell 3.2 percent on Friday, impacting technology shares.

#### Economic Indicators

The National Association of Realtors reported a dip in U.S. existing home sales for May, aligning closely with forecasts. Additionally, the Conference Board revealed that leading U.S. economic indicators dropped more than expected last month.

#### Oil Market

Oil futures closed lower on Friday amid concerns over global oil demand and a strong U.S. dollar. West Texas Intermediate crude oil futures for July dropped $0.56 or 0.7 percent to $80.73 a barrel but gained 3 percent for the week.

#### Domestic Outlook

Singapore is set to release May consumer price index (CPI) figures later today. April saw overall inflation rise 0.1 percent month-over-month and 2.7 percent year-over-year, while core CPI grew by an annual 3.1 percent.

With these developments, investors remain cautious as they navigate the fluctuating market landscape.